E12-4 (Static) Determining Cash Flow Statement Effects of Transactions LO12-1 For each of the following transactions, indicate whether net cash flows from operating activities, investing activities, or financing activities are affected and whether the effect is an inflow, outflow, or has no effect on cash. 1. Purchased inventory on account 2. Paid cash to purchase new equipment 3. Collected payments on customer accounts 4. Recorded and paid interest on debt to creditors 5. Declared and paid cash dividends to shareholders 6. Sold used equipment for cash at book value 7. Prepaid rent for the following period 8. Repaid principal on a loan from the bank 9. Recorded amortization of a patent 10. Made payment to suppliers on account Inflow Outflow No effect