Q.3An analysis of the income statement and the balance sheet accounts of XYZ on December 31, 2019 provides the following information:

Cash Receipts:

Sale of Common stock.250,000

Sale of equipment (at $34,000 loss)156,000

Sale of land (at $50,000 gain).160,000

Cash Payments:

Purchase of equipment..178,000

Purchase of treasury stock 45,000

Retirement of debt 36,500

Dividends on preferred and common stock. 75,000

Instructions

a. Prepare the investing activities section of a statement of cash flows. Place brackets around amounts representing cash outflows.