The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 42,000 shares of common stock in exchange for $420,000 in cash, 2. Purchased equipment at a cost of $64,000. $22,000 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 $114,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $132,000. The cost of the goods sold was $82,000. 5. Paid $6.200 in rent on the warehouse building for the month of March. 6. Paid $7,200 to an insurance company for fire and liability insurance for a one year period beginning April 1, 2021 7. Paid $82,000 on account for the merchandise purchased in 3. 8. Collected $67.000 from customers on account. 9. Recorded depreciation expense of $2,200 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 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 $52,000. Complete this question by entering your answers in the tabs below. Required 2 Required 1 9 of 9 Next > Analyze each transaction by indicating the cash effect and classify each as a financing. Investing, and/or operating activity transaction can represent more than one type of activity). (Amounts to be deducted should be indicated with a minussion (Required 1 9 of 9 E! Dear Next > Homework i 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 oquipment Cash paid Note issued