Indicate the effect, if any, that each separate transaction has on financing cash

flows.

Note: Select $"$No Effect" if there is no effect.

a$.$ Long$-$term notes payable with a carrying value of $$17,600$ are retired for

$$19,900$ cash, resulting in a $$2,300$ loss.

b$.$ Paid cash dividends of $$13,600$ to common stockholders.

c$.$ Acquired $$22,600$ worth of machinery in exchange for common stock.