On January 1, Year 1, Shelton Company had a balance of $261,500 in its Land account. During Year 1, Shelton sold land that had cost $92,000 for $144,500 cash. The balance in the Land account on December 31, Year 1, was $286,500. Required a. Determine the cash outflow for the purchase of land during Year 1. b. Prepare the investing activities section of the Year 1 statement of cash flows.