Problem 13-8 (Static) Classification of Transactions (LO13-1) Below are several transactions that took place in Seneca Company last year: Poid suppliers for inventory purchases. b. Bought equipment for cash c. Paid cash to repurchase its own stock d. Collected cash from customers. e. Paid wages to employees. 1. Equipment was sold for cash. 9. Common stock was sold for cash to investors h Cash dividends were declared and paid LA long-term loan was made to a supplier Income taxes were paid to the government K. Interest was paid to a lender Bonds were retired by paying the principal amount due Required: Indicate how each of the above transaction would be classified on a statement of cash flows. As appropriate, place an X in the Operating. Investing, or Financing column. Also, place an X in the Cash Inflow or Cash Outflow column. Operating Activity Investing Activity Financing Activity Cash Inflow Cash Outflow Transaction a. Paid suppliers for inventory purchases b. Bought equipment for cash c. Paid cash to repurchase its own stock d. Collected cash from customers a. Paid wages to employees Equipment was sold for cash g. Common stock was sold for cash to investors Low or Cash Outflow column Transaction Operating Activity Investing Activity Financing Activity Cash Inflow Cash Outflow Pald suppliers for Inventory purchases b. Bought equipment for cash c. Paid cash to repurchase its own stock d. Collected cash from customers e Paid wages to employees Equipment was sold for cash 9. Common stock was sold for cash to investors tu Cash dividends were declared and paid LA long-term loan was made to a supplier Income taxes were paid to the government k. Interest was paid to a lender Bonds were retired by paying the principal amount due