Identify cash flows. (LO 1, 4, 6). For each transaction, indicate the amount of the cash flow, indicate whether each results in an inflow or outflow of cash, and give the section of the statement in which each cash flow would appear. Assume the statement of cash flows is prepared using the direct method. Inflow or Section of the Amount Outflow Statement Transaction a. Issued 1,000 shares of $1 par common stock for $8 per share b. Purchased $800 of supplies for $650 cash and the balance on account c. Borrowed $9, 500 from a local bank to expand the business d. Purchased some office equipment for $5, 200 cash e. Earned revenue of $16,000, receding $8, 500 cash and the balance on account f. Repaid $6,000 of the bank loan along with $500 interest g. Hired an office assistant and paid her $750 cash h. Declared and paid cash dividends of $875