Exercise 14-2A (Algo) Use the indirect method to determine cash flows from operating activities LO 14-1 Benson Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. The Year 2 income statement showed net income of $26,500. Required Prepare the operating aciivities section of the statement of cash flows. Note: Amounts to be deducted should be indicated with minus sign. Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1, Walton Company had a balance of $276,000 in its Land account. During Year 1, Walton sold land that had cost $76,000 for $146,500 cash. The balance in the Land account on December 31 , Year 1 , was $289,000. 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. Complete this question by entering your answers in the tabs below. Determine the cash outflow for the purchase of land during Year 1 . 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. Complete this question by entering your answers in the tabs below. Prepare the investing activities section of the Year 1 statement of cash flows. Note: Cash outfows should be indicated with minus sign