All-Star Automotive Company experienced the following accounting events during Year 3. 1. Performed services for $14100 cash 2. Purchased land for $7500 cash 3. Hired an accountant to keep the books, 4. Received $31000 cash from the issue of common stock 5. Borrowed $8.200 cash from State Bank 6. Pald S4100 cash for salary expense. 7. Sold land for $8.200 cash 8. Paid $3,100 cash on the loan from State Bank 9. Paid $4,300 cash for utilities expense. 10. Paid a cash dividend of $1300 to the stockholders Required a. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing activities (LA) or financing activities (FA). b. Prepare a statement of cash flows Assume All Star Automotive had a beginning cash balance of $9,100 Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). (If the event would not appear on the statement of cash flows, leave the cell blank.) Classification Event 1. 2 3 4 5 6 7 8. 9. 10 doquid Required B Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $9,100. (Cash Outflows should be indicated with a minus sign.) ALLSTAR AUTOMOTIVE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 3 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities Net cash flow from investing activities Cash flows from financing activities Net cash flow from financing activities Ending cash balance