The following transactions occurred during March 2016 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Issued 46,000 shares of capital stock in exchange for $460,000 in cash. Purchased equipment at a cost of $72,000. $26,000 cash was paid and a note payable was signed for the balance owed. Purchased inventory on account at a cost of $122,000. The company uses the perpetual inventory system. Credit sales for the month totaled $136,000. The cost of the goods sold was $86,000. Paid $6, 600 in rent on the warehouse building for the month of March. Paid $7, 600 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2016. Paid $86,000 on account for the merchandise purchased in 3. Collected $71,000 from customers on account. Recorded depreciation expense of $2, 600 for the month on the equipment. Required: Analyze each transaction and classify each as a financing, investing, and/or operating activity (a transaction can represent more than one type of activity). In doing so, also indicate the cash effect of each