PRACTICE EXERCISES Classifying Cash Flows The company provided the following information. (a) Cash sales for the year were $50,000; sales on account totaled $60,000.. (b) Cost of goods sold was $55,000. (c) All inventory is purchased on account. (d) Depreciation on building was $31,000 for the year. (e) Depreciation on equipment was $2,000. ( Cash collections of accounts receivable were $38,000 (g) Cash payments on accounts payable for inventory equaled $39,000. (h) Rent expense paid in cash was $11,000. 0 20,000 shares of common stock were issued for $240,000 in cash. (0) Land valued at $106,000 was acquired in exchange for signing a mortgage note payable. (k) Equipment was purchased for cash at a cost of $84,000. (I) Dividends of $46,000 were declared but not yet paid. (m) $15,000 of dividends that had been declared the previous year were paid in cash. (n) Interest totaling $16,000 was paid in cash during the year. (o) A machine used on the assembly line was sold for $12,000 in cash. The machine had a book value of $7,000. (p) On January 1, the company entered into an operating lease to secure the use of a building having a 1. 2. 3. cash price of $200,000. The first lease payment of $19,000 in cash was made on January 1. Compute cash from operating activities. Compute cash from investing activities. Compute cash from financing activities