Exercise 13-1 (Static) Classifying Transactions (LO13-1) Below are certain events that took place at Hazzard, Incorporated, last year: a. Collected cash from customers. b. Paid cash to repurchase its own stock. c. Borrowed money from a creditor. d. Paid suppliers for inventory purchases. e. Repaid the principal amount of a debt. f. Paid interest to lenders. g. Paid a cash dividend to stockholders. h. Sold common stock. i. Loaned money to another entity. j. Paid taxes to the government. k. Paid wages and salaries to employees. 1. Purchased equipment with cash. m. Paid bills to insurers and utility providers. Required: Indicate how each of the transaction would be classified on a statement of cash flows. Place an X in the Operating, Investing, or Financing column as appropriate. Transaction Operating Investing Financing Activity Activity Activity a. Collected cash from customers b. Paid cash to repurchase its own stock c. Borrowed money from a creditor d. Paid suppliers for inventory purchases e. Repaid the principal amount of a debt f. Paid interest to lenders g. Paid a cash dividend to stockholders h. Sold common stock i. Loaned money to another entity lj. Paid taxes to the government k. Paid wages and salaries to employees 1. Purchased equipment with cash m. Paid bills to insurers and utility Required: Indicate how each of the transaction would be classified on a statement of cash flows. Place an X in the Operating, Investing, or Financing column as appropriate. Transaction Activity Activity Activity a. Collected cash from customers b. Paid cash to repurchase its own stock c. Borrowed money from a creditor d. Paid suppliers for inventory purchases e. Repaid the principal amount of a debt f. Paid interest to lenders g. Paid a cash dividend to stockholders h. Sold common stock i. Loaned money to another entity j. Paid taxes to the government k. Paid wages and salaries to employees I. Purchased equipment with cash m. Paid bills to insurers and utility providers