The following transactions occurred during March 20 21 for the Wainwright Corporation. The company owns and operates a wholesale Warehouse 1. Issued 44,000 shares of common stock in exchange for $440.000 in cash. 2. Purchased equipment at a cost of $68,000. $24,000 cash was paid and a note payable to the seller was signed for the balance owed 3. Purchased Inventory on account at a cost of $118,000. The company uses the perpetual Inventory system 4. Credit sales for the month totaled $134,000. The cost of the goods sold was $84,000. 5 Paid $6,400 in rent on the warehouse building for the month of March 6. Paid $7.400 to an insurance company for fire and liability Insurance for a one-year period beginning April 1, 2021. 7. Pald $84,000 on account for the merchandise purchased in 3. 8 Collected $69.000 from customers on account 9. Recorded depreciation expense of $2.400 for the month on the equipment. Required: 1. Analyze each transaction by indicating the cash effect and classify each as a financing Investing and/or operating activity a transaction can represent more than one type of activity 2. Prepare a statement of cash flows, using the direct method to present cash flows from operating activities. Assume the cash balance at the beginning of the month was $54,000 Required 1 Required 2 Analyze each transaction by indicating the cash effect and classify ea activity (a transaction can represent more than one type of activity). a minus sign. If there is no cash effect, leave cell blank.) Operating Investing Financing N 400 I 00 WAINWRIGHT CORPORATION Statement of Cash Flows For the Month Ended March 31, 2021 Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash and cash equivalents, March 1 Cash and cash equivalents, March 31 Noncash investing and financing activities: Cost of equipment Cash paid Note issued