On January $1,$ Year $1,$ Zachary Company had a balance of $$267,000$ in its Land account. During Year $1,$ Zachary sold land that had cost

$$90,500$ for $$158,000$ cash. The balance in the Land account on December $31,$ Year $1,$ was $$285,000.$

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.

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Determine the cash outflow for the purchase of land during Year $1.$

Cash outflow for the purchase of landOn January $1,$ Year $1,$ Zachary Company had a balance of $$267,000$ in its Land account. During Year $1,$ Zachary sold land that had cost $$90,500$ for $$158,000$ cash. The balance in the Land account on December $31,$ Year $1,$ was $$285,000.$

Required

Determine the cash outflow for the purchase of land during Year $1.$

Prepare the investing activities section of the Year $1$ statement of cash flows.