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need help not sure if its correct. i feel like im missing stuff The following transactions occurred during March 2021 for the Wainwright Corporation. The

image text in transcribedneed help not sure if its correct. i feel like im missing stuff

The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 44,000 shares of common stock in exchange for $440,000 in cash. 2. Purchased equipment at a cost of $68,000. $24,000 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 $118,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $134,000. The cost of the goods sold was $84,000. 5. Paid $6,400 in rent on the warehouse building for the month of March. 6. Paid $7,400 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $84,000 on account for the merchandise purchased in 3. 8. Collected $69,000 from customers on account. 9. Recorded depreciation expense of $2,400 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 $54,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze each transaction by indicating the cash effect and classify each as a financing, investing, and/or operating activity (a 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 $ 440,000 (24,000) 5. (6,400) (7,400) (84,000) 69,000 8. | $ (28,800) $ (24,000)| $ 440,000 =

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