On January $1,$ Year $2,$ MicroChips Incorporated had a balance of $$470,000$ in its buildings account. During Year $2,$ the company sold

buildings that had cost $$220,500$ for $$275,000$ cash. The balance in the buildings account on December $31,$ Year $2,$ was $$282,000.$

Required:

a$.$ Determine the cash outflow for the purchase of buildings during Year $2.$

b$.$ Prepare the investing activities section of the Year $2$ statement of cash flows.

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Determine the cash outflow for the purchase of buildings during Year $2.$