Exercise 1-18A Prepare a statement of cash flows LO 1-8 All-Star Automotive Company experienced the following accounting events during Year 1: 1. Performed services for $15,600 cash. 2. Purchased land for $8,600 cash. 3. Hired an accountant to keep the books, 4. Received $46,000 cash from the issue of common stock. 5. Borrowed $11,200 cash from State Bank. 6. Paid $5,600 cash for salary expense. 7. Sold land for $11,200 cash 8. Paid $4,600 cash on the loan from State Bank. 9. Paid $5,800 cash for utilities expense. 10. Paid a cash dividend of $2,600 to the stockholders. Required a. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing activities (1A), financing activities (FA), or not applicable (NA). b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,600. 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. 2. 3. 5. 6. 7 8. 9 10 Required Required B