QUESTION 1 Use the following information to answer the question Proceeds from the sale of marketable securities Purchase of land Proceeds from the sale of land Net cash provided by investing activities $160,000 (250,000) 125,000 $35,000 Lester's income statement for 2016 includes the following: Loss on the sale of marketable securities Gain on the disposal of land 547,000 65,000 Lester's balance sheet at the end of 2017 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for land in Lester Corporation's balance sheet at December 31, 2018 $250,000 $350,000 $290,000 some other amount