3. Borrowed $15,000 from the local savings and loan institution on a long-term basis. 4. Paid dividends of $10,000 during the year. 5. Sold investments, with book value of $8,000, for $6,000. 6. Purchased short-term investments (stock in a Fortune 500 company) for $4,500. 7. Repurchased fifty shares of its own capital stock for $300. Stock is to be held for pos- sible resale. 8. Paid $5,600 of long-term debt. 9. Exchanged 100 shares of capital stock for $1,000 of long-term debt owed to First Bank. 10. Purchased vacant land for $10,000 for potential expansion two years hence. Required: Identify how each transaction would be classified for the purpose of creating a statement of cash flows. Please provide the inflow/outflow effect and classification for each transaction! Thank you.

3. Borrowed $15,000 from the local savings and loan institution on a long-term basis. 4. Paid dividends of $10,000 during the year. 5. Sold investments, with book value of $8,000, for $6,000. 6. Purchased short-term investments (stock in a Fortune 500 company) for $4,500. 7. Repurchased fifty shares of its own capital stock for $300. Stock is to be held for possible resale. 8. Paid $5,600 of long-term debt. 9. Exchanged 100 shares of capital stock for $1,000 of long-term debt owed to First Bank. 10. Purchased vacant land for $10,000 for potential expansion two years hence. Required: Identify how each transaction would be classified for the purpose of creating a statement of cash flows. Problem 1 The Westside Deli has engaged in several transactions during the year as follows: 1. Purchased a delivery van for $15,000 and paid cash. 2. Sold 100 shares of capital stock with a $5 par value per share for $10 per share. 17.1 Assume you are using the indirect method. For each transaction provide 1. Inflow/Outflow effect 2. Classification