Exercise $12-8$A $($Algo$)$ Determining cash flow from investing activities LO $12-3$

On January $1,$ Year $1,$ Shelton Company had a balance of $$261,500$ in its Land account. During Year $1,$ Shelton sold land that had cost $$91,500$ for $$155,000$ cash. The balance in the Land account on December $31,$ Year $1,$ was $$292,500.$

Required

Q$.$ 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.

Complete this question by entering your answers in the tabs below.

Required $A$

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

Cash outflow for the purchase of land