Lanyard Company is preparing its 2016 nancial statements. During 2016, the company purchased a building for $100,000, paid $20,000 as a down payment, and signed an $80,000 mortgage with First Bank. Lanyard's president, Tom Holly, is concerned about how to report this transaction on the company*s statement of cash ows and has asked you to research the FASB's Accounting Standards Codication (ASE). Prepare a short memo to the president that summarizes how to report this transaction on the 20 16 statement of cash flows Your grade will be based on the following criteria: 1. Identication of key issues 2. Inclusion of appropriate references and paragraph numbers from the FASB Codication. 3. Justication for and accuracy of your solution 4. Clarity and succincmess with which you communicate. The memos are limited to a single page and generally no longer than one or two paragraphs. Access to FASB website and the A30: The School of Accounting has access through the American Accounting Association: hEp:,{ [www2.aaahg .ogg ,{ascLo gin.cn Username: AAAS 1230 Password: s33UYbH