The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1 Issued 48,000 shares of capital stock in exchange for $480,000 in cash. 2 Purchased equipment at a cost of $76,000. $28,000 cash was paid and a note payable was signed for the balance owed. The company uses the perpetual inventory system. the goods sold was $88,000 month of March. insurance for a one-year period beginning April 1, 2018 in 3. 3. Purchased inventory on account at a cost of $126,000. 4. Credit sales for the month totaled $138,000. The cost of 5. Paid $6,800 in rent on the warehouse building for the 6. Paid $7,800 to an insurance company for fire and liability 7. Paid $88,000 on account for the merchandise purchased 8. Collected $73.000 from customers on account 9. Recorded depreciation expense of $2.800 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 $58,000 Required 1 Required 2 Analyze each transaction by indicating the cash effect and dassify each transaction can represent more than one type of activity). (Amounts tol there is no cash effect, leave cell blank.) Operating Investing Financing 1. 2. 3. 4. 5. 6. 7