Determining cash flow from investing activities On January 1, 2011, Webber Company had a balance of $278,000 in its Land account. During 2011, Webber sold land that had cost $94,000 for $120,000 cash. The balance in the Land account on December 31, 2011, was $300,000.

Required

a. Determine the cash outflow for the purchase of land during 2011.

b. Prepare the investing activities section of the 2011 statement of cash fl o w s .