Questions 1. What is the purpose of the Statement of Cash Flows? 2. What are the three major classifications of cash flows in the Statement of Cash Flows? If you could pick, which one would you prefer your company used to generate cash? Why? 3. Under which classification of cash flows would each of the below be put if you were preparing a statement of cash flows? -Sale of a building -Pay off a loan -Sale of food -Purchase inventory -Pay GM salary -Buy a plot of land -Take out a loan -Collect accounts receivable Took a depreciation expense for a building