1. The company purchased $7,500,000 of raw material inventory on account. On account means that that suppliers have not yet been paid. That is Rocky Mountain Chocolate has an additional Account Payable for the inventory purchases.

2. During the year, the company incurred $6,000,000 of factory wages. When wages relate to the production of a companys inventory, the wage costs are added to the inventory account. For now, assume that the wages have not yet been paid.

3. The company sold inventory that cost $14,000,000 for a total of $22,000,000. Or that, $17,000,000 was received I cash and $5,000,000 was on account (that is, added to Accounts Receivable)

4. The company paid $8,200,000 to suppliers for inventory it had previously purchased on account. That is, it paid $8,200,000 of accounts payable.

5. The company collected $4,100,000 of accounts receivable.

6. The company incurred Sales and Marketing Expenses of $1,505,431, General and Administrative Expenses of $2,044,569, and Retail Operating Expenses of $1,750,000. They paid $2,000,000 in cash and $3,300,000 was added to Other Accrued Expenses.

7. The company paid $6,423,789 to employees for wages that had been previously accrued.

8. Rocky Mountain Chocolate Factory received $125,000 in cash from new franchisees. The company must provide services to the franchisees over the next five years. As such, the fees are considered Defered income.

9. The company paid $498,832 for new property and equipment.

10, During the year, the company declared $2,407,167 of dividends on its common shares. They paid $2,403,458 during the fiscal year. The difference, $3,709 will be paid in the following fiscal year,

11. Many other transactions were recorded during the year. They are summarized in the spreadsheet. Do not attempt to interpret individual entries as many invoice offsetting debits and credits and the resulting values are net figures.

For each transaction, indicate whether the transaction would appear in the operating, investing, or financing section of the statement of cash flows.