Effects of Stockholders' Equity Transactions on Statement of Cash Flows Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,000 shares of $100 par, 9% cumulative, nonparticipating preferred stock and 10,000 shares of $4 par common stock. On January 10, Peeler issued for cash 600 shares of preferred stock at $112 per share and 3,990 shares of common stock at $81 per share. On January 20, it issued 1,030 shares of common stock to acquire a building site at a time when the stock was selling for $ 70 per share. During 2017, Peeler established an employee benefit plan and acquired 460 shares of common stock at $60 per share as treasury stock for that purpose. Later in 2017, it resold 80 shares of the stock at $67 per share. On December 31, 2017, Peeler determined its net income for the year to be $40,860. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $4 per share to the common stockholders. The dividends will be paid in 2018. Required: 1. Indicate how each transaction affects the cash flow of Peeler Company by preparing the Financing Activities section of the 2017 statement of cash flows. Use the minus sign to indicate cash outflows. Cash flows from financing activities: Issuance of preferred stock Issuance of common stock Purchase of treasury stock Reissuance of treasury stock Net cash flow from financing activities 2. Which of these transactions are excluded of any from the financing Activities section of the statement and why?