1. Acquirod $60000 cash from the issue of common stock. 2. Purchased $65,000 of inventory on account. 3. Alocelved goods purchased in Event 2 FOE shipping point, freight coct of $900 pald in cash. 4. Sold inveritory on account that cost $38,000 for $77,000. 5. Frelght cost on the goods sold in Evert 4 was $620 The goods were shipped Foe dectination. Cach was pald for the freight coct. 6. Customer in Evont 4 retumed $4,200 worth of goods that had a cost of $2,150. 7. Collected $58,300 cash from accounts recelvable. 8. Pard $59200 cash on accoumts payable. 9. Paid $2,600 for advertising expense. 10. Pald $3,100 cash for insurance expense. Pequired a. Which of these everts affect pectod (selling and adminstrattivej cots? Which result in product costs? b. Pecord the above everts in a horizontal statement model, In the Cash Flow column, use OA to designate operating activity, IA for Invertment activy, FA for financing actMity, or NC for net change in cash if the element is not affected by the ewert, leave the cell blank. The first event is recordiod as an example. Complete this question by entering your anwwers in the tats below. Not all calls nequirs entry) Conphiete this question by entering your anowess in the tabs bedow. Not all cell require entry)