(a) Classification O Additional inform 1. Accounts rece 2. Inventory in 3. Prepaid expe 4. Accounts par 5. Accrued ex 6. Interest pay 7. Income ta Instructions Assuming th using either P17-13 You are provided with the following transactions that took place during a recent fiscal year: growth stage? Explain. Problems: Set B Classify transactions by activity. Indicate impact on cash and profit. (LO 1) AP Transaction 1. Paid telephone bill for the month. 2. Sold land for cash, at a gain. 3. Acquired land by issuing common shares. 4. Paid a cash dividend to preferred shareholders. 5. Performed services for cash. 6. Performed services on account. 7. Purchased inventory for cash. 8. Purchased inventory on account. 9. Paid income tax. 10. Made principal repayment on a trade note payable. 11. Paid semi-annual bond interest. 12. Received rent from a tenant in advance. 13. Recorded depreciation expense. 14. Reacquired common shares at a price greater than the average cost of the shares. 15. Issued preferred shares for cash. 16. Collected cash from customers on account. 17. Issued a note payable. 18. Paid insurance for the month. TAKING is determi P17-3B followin Instructions Assuming the company is reporting under IFRS, complete the above table for each of the following requiremen assuming none of the transactions were previously accrued. The first one has been done for you as an example. (a) Classify each transaction as an operating activity (O), an investing activity (1), a financing activity (F), su noncash transaction (NC) on the cash flow statement. If there is choice in how a transaction is classifie indicate the alternative classifications