On January 1, Year 1, Poole Company had a balance of $178,000 in its Land account. During Year 1, Poole sold land that had cost $71,000 for $95,000 cash. The balance in the Land account on December 31, Year 1, was $210,000.

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.