Module 1 Textbook Problems 3 Problem: Module 1 Textbook Problem 3 Learning Objective 15 Prepare a statement of cash flows Al-Star Automotive Company experienced the following accounting during Year 1. Performed services for $4300 cash ondexternal bi the 10 10 2. Purchased land for $7,300 cash 3. Hred an accountant to keep the books & Received $33,000 cash from the sue of common stock 5. Borrowed $8.600 cash from State Bank 6. Paid $4,300 cash for salary expense 7. Sold land for $8,600 cash 8. Paid $3,300 cash on the loan from State Bank 9. Paid $4,500 cash for utites expense 10. Paid a cash dividend of $1,300 to the stockholders Required Indicate how each of the events would be classified on the statement of cash flows as operating activities (OAL invests AL or financing activities (FA) b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $9.300 Complete this question by entering your answers in the tabs below Prepare a statement of cash flows Assume Ab-Star Automotive hat a begiving cash balance of $1,300 (Cash Cuttin should be indicated with mus sign) ALL-STAR AUTOMOTIVE COMPANY Cash Flows For the year Ended December 31 Yurs Cash fows from operating act Cash receipts t revenue Cash payment for ssay noerse Cesh payments for unites excense Net cash flow from operating echines 14.300 (4.200 (4500 100 Cash fous from investing acute Cesh from the sale of land 1400 Cesh paid to purchase land 7300 Net cash flow from investing acute 1300 Cash flows from anch Cest receipts fromstock issue 33000 Cesh Cash p ovidends 3300 300 Nel caso fomtrending act e increase in cash Beginning cash beance Ending cash Delence 2000 300 300