The following transactions occurred during March 2024 for the Wainwright Corporation. The company owns and operates a whole warehouse 1 Issued 30,000 shares of common stock in exchange for $300,000 in cash 2. Purchased equipment at a cost of $40,000 $10,000 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 $90,000. The company uses the perpetual vectory system 4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000 5 Paid $5,000 in rent on the warehouse building for the month of March 6. Paid $6,000 to an insurance company for fire and liability Insurance for a one-year period beginning April 1, 2024 7 Paid $70,000 on account for the merchandise purchased in 3. 8 Collected $55,000 from customers on account 9. Recorded depreciation expense of $1.000 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 $40,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze each transaction by indicating the cash effect and classify sach as a financing, Investing, and/or operating activity (a transaction can represent more than one type of activity). Note: Amounts to be deducted should be indicated with a minus sign, if there is no cash effect, leave cell blank