Below are several transactions for White cloud Corporation for $2024.$

a$.$ Issue common stock for cash, $$58,000.$

b$.$ Purchase building and land with cash, $$43,000.$

c$.$ Provide services to customers on account, $$7,800.$

d$.$ Pay utilities on building, $$1,400.$

e$.$ Collect $$5,800$ on account from customers.

f$.$ Pay employee salaries, $$9,800.$

g$.$ Pay dividends to stockholders, $$4,800.$

Required:

$1.$&$2.$ For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether White cloud should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year.

$3.$ Assuming the balance of cash on January $1,2024,$ equals $$5,200,$ calculate the balance of cash on December $31,2024.$

Complete this question by entering your answers in the tabs below.

Req $1$ and $2$

For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether White cloud should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year. $($Enter N$/$A if the question is not applicable to the statement. List cash outflows as negative amounts.$)$

$\backslash$table$[[$Transaction$,$Cash Flows,$\backslash$table$[[$Operating$,$ Investing$],[$or Financing$]]],[$Issue common stock for cash, $$58,000.,,],[$Purchase building and land with cash, $$43,000.,,],[$Provide services to customers on account, $$7,800.,,],[$Pay utilities on building, $$1,400.,,],[$Collect $$5,800$ on account from customers.,,$],[$Pav amnlnven calaria