Exercise 13-1 a-b Sheridan Corporation had the following transactions: (If the transaction has no effect on cash, leave the Cash Effect and Classification fields blank.) (a) In the below table, indicate by how much each transaction increases or decreases cash. If the transaction has no effect on cash, say so. (b) Identify whether the transaction should be classified as an operating activity, investing activity, financing activity, noncash investing and financing activity, or leave blank. (a) (b) Cash Effect Classification 1. Issued common shares for $63,000 2. Purchased a machine for $33,000. Made a $5,500 down payment and issued a long-term note payable for the remainder. 3. Collected $12,000 of accounts receivable. 4. Paid a $22,000 cash dividend 5. Sold a long-term investment with a carrying amount of $15,200 for $19,495 6. Sold inventory for $1,300 7. Paid $22,000 on accounts payable. 8. Purchased a held for trading investment (equity securities) for $125,000. 9. Purchased inventory for $31,000 on account 10. Collected $1,000 in advance from customers. 11. Paid $27,500 to reacquire and retire common shares