The following transactions occurred...

The following transactions occurred during March 2016 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1.lssued 30,000 shares of capital 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 was signed for the balance owed 3.Purchased inventory on account at a cost of $90,000. The company uses the perpetual inventory system 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, 2016. 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 and classify each as a financing, investing, and/or operating activity (a transaction can represent more than one type of activity). In doing so, also indicate the cash effect of each. (Amounts to be deducted should be indicated with a minus sign. If there is no cash effect, leave cell blank.) Operatin gI nvesting Financing $ 300,000 30,000 1 2. 3 4 (40,000) (5,000) (6,000) (70,000) 55,000 7 $(26,000) $(40,000)$ 330,000$ 264,000