State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $230,000 of bonds, on which there was $2,300 of unamortized discount, for $239,000. b. Sold 7,000 shares of $20 par common stock for $48 per share. C. Sold equipment with a book value of $48,200 for $69,400. d. Purchased land for $452,000 cash. e. Purchased a building by paying $95,000 cash and issuing a $90,000 mortgage note payable. f. Sold a new issue of $230,000 of bonds at 99. g. Purchased 6,200 shares of $35 par common stock as treasury stock at $65 per share. h. Pald dividends of $2.00 per share. There were 32,000 shares issued and 5,000 shares of treasury stock, Effect Amount Cash payment $ 239,000 Cash receipt Cash receipt Cash payment Cash payment Cash recept Cash payment Cash payment Instructions The net income reported on the income statement for the current year was $312,800 Depreciation recorded on equipment and a building amounted to $105.240 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Cash 590 240 112 220 214,170 Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable Beginning of Year 595.800 119,310 195 260 14,850 104370 12.600 12.740 95.690 15.720 Required: Statement of Cash Flows-Operating Activities A Prepare the Cash Flows from Operating Activities section of the statement of cash fows using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments if required Statement of Cash Flows (partial) 1 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities 5 Changes in current operating sets and liabilities 3 Adjustments to reconcile net income to net cash flow from operating activities: 5 Changes in current operating assets and liabilities