Question 9: Cash Flow Classification Inflow or Outflow of Cash or Financing Operating, Investing, Transaction a.) Collect $6,000 on account from customers b) Pay dividends to stockholders $5,000 c.) Issue common stock for cash, $7,000 d.) Pay utilities on building, $2,000 e.) Provide services for customers on account $8,000 f.) Pay employee salaries, $10,000 g.) Purchase building and land with cash, $50,000 Net cash flows for the year Required 1. For each transaction, determine the amount of the inflow or outflow of cash (indicate inflows with a +" and outflows with a -"). If cash is involved in the transaction. indicate whether Master should classify it as operating, investing, or financing in a statement of cash flows Calculate net cash flows for the year. Assuming the balance of cash on January 1 equals $5,000, calculate the balance of cash on December 31. 2. 3