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The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 44,000 shares of common

The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse.

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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. Paid $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. 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). (Amounts to be deducted should be indicated with a minus sign. If there is no cash effect, leave cell blank.) Operating Investing Financing 1. 2. 3. 4. 5. 6. 7. 8. 9. $ 0 $ 0 $ 0 = balance at the beginning of the month was $54,000. (Amounts to be deducted should be indicated with a minus sign.) WAINWRIGHT CORPORATION Statement of Cash Flows For the Month Ended March 31, 2021 Cash flows from operating activities: $ 0 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 0 Net cash flows from financing activities Net increase in cash Cash and cash equivalents, March 1 Cash and cash equivalents, March 31 $ 0 Noncash investing and financing activities: Cost of equipment Cash paid

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