The following transactions occurred during March 2024 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 38,000 shares of common stock in exchange for $380,000 in cash. 2. Purchased equipment at a cost of $56,000. $18,000 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 $106,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $128,000. The cost of the goods sold was $78,000. 5. Paid $5,800 in rent on the warehouse building for the month of March. 6. Paid $6,800 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2024. 7. Paid $78,000 on account for the merchandise purchased in 3. 8. Collected $63,000 from customers on account. 9. Recorded depreciation expense of $1,800 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 $48,000. 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 each 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. Operating Investing Financing 22 4 5 7. 8 $ 0 $ 05 Required 2 >