9:40 Done Income ST ST of CF Assignment_... 7 Designate how each transaction would be reported on the statement of cash flows using OP for operating activities, IN for investing activities, FI for financing activities, I for an inflow of cash and O for an outflow of cash. If the transaction is included only in a supplemental schedule, denote this as SS. Section Inflow or Outflow 1) Paid cash dividends 2) Purchased 6 months of insurance in advance 3) Sold inventory for cash 4) Purchased equipment signing a two-year note 5) Collected accounts receivable balance from a customer 6) Sold shares of another company's stock held for speculative purposes 7) Reclassified a note from long term to short term 8) Issued bonds at a premium 9) Proceeds received from sell of marketable securities Fill in the appropriate blank figures in the income statement below. Gross sales $7,500 Sales returns and allowances Less: Cash discounts on sales (A) 250 $7,100 (B) Cost of goods sold Inventory, January 1, 2X10 Purchases (gross) $3.210 200 (C) 275 280 Less: Cash discounts on purchases Net Purchases (D) Add: Freight In 50 Total cost of merchandise acquired Cost of goods available for sale Inventory, December 31, 2X10 Cost of goods sold (E) Gross Profit 2.705 2,905 80 2 S(F) 10) (A) 11) (B) 12) C