Below are several transactions for a company for Year 1. a. Issue common stock for cash, $54.000. b. Purchase building and land with cash, $39,000. c. Provide services to customers on account, $7,400. d. Pay utilities on building, $1,200. e. Collect $5,400 on account from customers. f. Pay employee salaries, $9,400. g. Pay dividends to stockholders, $4,400. Required: 1. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether the company should classify it as operating, investing, or financing in a statement of cash flows. (Enter N/A if the question is not applicable to the statement. List cash outflows as negative amounts.) Transaction Issue common stock for cash. Purchase building and land with cash. Provide services to customers on account. Pay utilities on building. Collect cash from customer on account. Pay employee salaries. Pay dividends to stockholders Operating, Investing Cash Flows or Financing S 54,000 Financing S (39,000) Investing S O NA S (1,200) Operating S 5,400 Operating S (9,400) Operating S (4,400) Financing 2. Calculate net cash flows for the year. (List cash outflows as negative amounts.) S Collect Cash from Customers on Account Pay Employee Salaries Pay Utilities on Building Purchase Building and Land with Cash Issue Common Stock for Cash Pay Dividends to Stockholders 4,400 (8,400) (700) (29,000) 44.000 (3,400) Net cash flows for the year S 6.900 3. Assuming the balance of cash on January 1, Year 1, equals $4,800, calculate the balance of cash on December 31, Year 1. Cash balance $ 10,700

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