PROBLEMS 36. Classifying Cash Flows Problem 36 2016 by Flat World Knowledge, Inc. 3. Free cash flow Problems 36. Classifying Cash Flows. Chester Company had the following transactions during 2017 1. Issued common stock for 5150,000 cash 2. Paid $25,000 in principal on previously issued bonds 3. Paid $300,000 in salaries and wages to employees 4. Sold property for $45,000 cash 5. Paid $3,000 in cash dividends 6. Received 5600,000 from customers for cash sales 7. Paid $350,000 cash for merchandise 8. Converted bonds into common stock 9. Purchased a building for $850,000 cash 10. Paid $310,000 for operating expenses 11. Received $200,000 cash for the sale of long-term investments 12. Issued bonds for $87,000 cash 13. Repurchased common stock for $35,000 cash 14. Issued common sick to purchase land valued at $450,000 15. Paid $10,000 cash for interest on notes payable Required: Classify each transaction as one of the following operating activity, investing activity, financing activity, or noncash transaction. Briefly explain your answer for each item, 37. Prepare a Statement of Cash Flows, Indirect Method. Madison, Inc.'s most recent balance sheet, income statement, and other important Information for 2017 are presented as follows