Problem 14-5 Several transactions entered into by Larkspur Retail during 2018 follow: 1. 2. 3. 4. 5. 6. 7. 8. Received $53,000 for wine previously sold on account. Paid $52,000 in salaries and wages. Sold a building for $95,000. The building had cost $168,000, and the related accumulated depreciation at the time of sale was $60,000. Declared and paid a cash dividend of $70,000 Repurchased 9,000 shares of outstanding common stock at $49 per share. Purchased a two-year, $105,000 fire and storm Insurance policy on June 30. Purchased some equipment in exchange for 1,100 shares of common stock. The stock was currently selling for $71 per share. Purchased $441,000 in long-term investments Issued $194,000 face value bonds. The bonds were sold at 102 Owed $29,000 in rent as of December 31 10. Record each transaction on a chart like the following. Classify the sections of the statement of cash flows as a cash flow from operating, investing, or financing activities. Assume that the company uses the direct method. Transaction Effect on Cash Section of Statement CALCULATOR FULL SCREEN PRINTER VERSION BACK 10. Owed $29,000 in rent as of December 31. Record each transaction on art like the following. Classify the sections of the statement of cash flows as a cash flow from operating, investing, or financing activities. Assume that the company uses the direct method. Transaction Effect on Cash Section of Statement LINK TO TEXT LINK TO TEXT LINK TO TEXT