Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows:

Required:

For the transactions below, indicate how the transactions will affect the statement of cash flows. Cash outflows should be entered as negative amounts.

Transaction Type of Activity Effect on Cash Flows Rebuilt and delivered five pianos in January to customers who paid $20,800 in cash. Received a $780 deposit from a customer who wanted her piano rebuilt. Rented a part of the building to a bicycle repair shop; received $1,030 for rent in January. Received $8,100 from customers as payment on their accounts. e. Received an electric and gas utility bill for $490 to be paid in February. f. Ordered $1,140 in supplies. Paid $2,570 on account in January. Received from the home of Stacey Eddy, the major shareholder, a $1,100 tool (equipment) to use in the business in exchange for 100 shares of $1 par value stock. i. Paid $18,300 in wages to employees who worked in January. j. Declared and paid a $2,380 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (f)