Exercise 4-16 (Algo) Statement of cash flows; directly from transactions (L04-8] The following transactions occurred during March 20 21 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 39,000 shares of common stock in exchange for $390,000 in cash. 2 Purchased equipment at a cost of $58,000 $19.000 cash was paid and a note payable to the seller was signed for the balance owed 3. Purchased Inventory on account at a cost of $108,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $129.000. The cost of the goods sold was $79.000 5. Paid $5.900 in rent on the warehouse building for the month of March 6. Paid $6.900 to an insurance company for fire and liability Insurance for a one-year period beginning April 1, 2021 7. Pald $79,000 on account for the merchandise purchased in 3 8. Collected $64,000 from customers on account 9. Recorded depreciation expense of $1.900 for the month on the equipment Required: 1. Analyze each transaction by indicating the cash effect and classify each as a financing. Investing, and/or operating activity (a transaction can represent more than one type of activity) 2. Prepare a statement of cash flows, using the direct method to present cash flows from operating activities. Assume the cash balance at the beginning of the month was $49,000 Required: 1. Analyze each transaction by indicating the cash effect and classify each as a financing. Investing, and or operating activity transaction can represent more than one type of activity 2. Prepare a statement of cash flows, using the direct method to present cash flows from operating activities. Assume the cash balance at the beginning of the month was $49,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze each transaction by indicating the cash effect and dassify each as a financing, investing, and/or operating activity (transaction can represent more than one type of activity). (Amounts to be deducted should be indicated with a minus sign. If there is no cash effect, leave cell blank.) Operating Investing Financing Required 2 > WAINWRIGHT CORPORATION Statement of Cash Flows For the Month Ended March 31, 2021 Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash and cash equivalents, March 1 Cash and cash equivalents, March 31 Noncash investing and financing activities: Cost of equipment Cash paid Note issued