Exercise 1-18A Prepare a statement of cash flows LO 1-8 All-Star Automotive Company experienced the following accounting events during Year! 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 $1.200 cash from State Bank 6. Paid $5.600 cash for salary expense 7. Sold land for $1.200 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 (A), financing activities (FA) or not applicable INA) 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 Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $10,600. (Amounts to be deducted should be indicated with a minus sign ALL-STAR AUTOMOTIVE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities Net cash low hom operating activities Cash flow om investing activities Net cash flow from investing activities Cashflows from anong activities Net cash flow from trance activities Ending cash balance