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: $ Cash Accounts receivable Supplies Equipment Land Building 7,200 36,000 1,900 10,300 8,200 29, 300 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings $ 10,400 4,160 53,300 2,000 7,480 15,560 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 a. 20,600 b. 760 C. d. Financing e. Investing f. Rebuilt and delivered five pianos in January to customers who paid $20,600 in cash. Received a $760 deposit from a customer who wanted her piano rebuilt. Rented a part of the building to a bicycle repair shop; received $1,010 for rent in January. Received $8,000 from customers as payment on their accounts. Received an electric and gas utility bill for $480 to be paid in February. Ordered $1,120 in supplies. Paid $2,540 on account in January. Received from the home of Stacey Eddy, the major shareholder, a $1,080 tool (equipment) to use in the business in exchange for 100 shares of $1 par value stock. Paid $18,100 in wages to employees who worked in January. Declared and paid a $2,360 dividend (reduce Retained Earnings and Cash). Received and paid cash for the supplies in (f). No effect g. Operating h. i. j. k