During the year 2019, The ICON COMPANY were performed the following activities:

1. Purchase of treasury stock

2. Purchase of marketable securities

3. Purchase of available for sale investment

4. Increase in accounts payable

5. Salaries

6. Retirement of bonds

7. Issuance of bonds

8. Decrease in accounts payable

9. Increase in inventory

10. Sale of equipment at a loss

11. Loan from bank by signing a note

12. Increase in accounts receivable

13. Purchase of equipment by issuing a note

14. Purchase of land and building.

15. Payment of dividends.

16. Issuance of stock for cash.

17. Sale of land at a gain.

18. Depreciation expense.

19. Sale of land at book value.

20. Decrease in accounts receivable.

Required: Explain the effect of each activity on the statement of cash flows of the ICON

COMPANY.

e.g.: 1) Purchase of treasury stock reported as cash outflow in financing activities section