B. Prepare statement of cash flows for 2018. Assume All-Star Automotive company had a beginning cash balance of $9,600 on January 1,2018.
Required A Required B Prepare a statement of cash flows for 2018. Assume All-Star Automotive company had a beginning cash balance of $9,600 on January 1, 2018. (Amounts to be deducted should be indicated with a minus sign.) ALL-STAR AUTOMOTIVE COMPANY Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Cash receipts from revenue $ 0 Net cash flow from operating activities Cash flows from investing activities: Cash from the sale of land Cash paid to purchase land $ 0 Net cash flow from investing activities Cash flows from financing activities: Cash receipts from stock issue Cash receipts from loan Cash payment on loan Cash payments for dividends 0 Net cash flow from financing activities Net increase in cash Ending cash balance All-Star Automotive Company experienced the following accounting events during 2018: 1. Performed services for $14,600 cash. 2. Purchased land for $7,600 cash. 3. Hired an accountant to keep the books. 4. Received $36,000 cash from the issue of common stock. 5. Borrowed $9,200 cash from State Bank. 6. Paid $4,600 cash for salary expense. 7. Sold land for $9,200 cash. 8. Paid $3,600 cash on the loan from State Bank. 9. Paid $4,800 cash for utilities expense. 10. Paid a cash dividend of $1,600 to the stockholders. Required a. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), invest (IA), financing activities (FA), or not applicable (NA) b. Prepare a statement of cash flows for 2018. Assume All-Star Automotive company had a beginning cash balance of $ January 1, 2018 Complete this question by entering your answers in the tabs below. Required A Required B Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or not applicable (NA). Event Classification 1. POA 2 LA NA 3