Transactions Dec. 1 The owner contributed an additional $7,900 cash to the business in exchange for capital 7 Purchased equipment for $1,700 on account, 14 Paid $19,800 cash for land. 17 Paid cash expenses: office rent, $1,600, employees' salaries, $1,500; utilities, $300. 23 The owner withdrew $2,300. 26 Earned service revenue for the month, $5,000, receiving cash. SMART TOUCH LEARNING Statement of Cash Flows Month Ended December 31, 2016 Cash flows from operating activities Receipts: Collections from customers Payments For unlities For rent 300 1600 5000 For salaries -1500 3400 Net cash provided (used) by operating activities 1600 Cash flows from investing activities Acqunition of Land 19800 Net cash provided (used) by investing activities -19500 Cash flows from Financing activities Owner contribution 7900 Owner withdrawal 2300 Net cash provided (used) by financing activities 5600 Net increase (decrease) in cash Cash balance, December 1, 2016 Cash balance, December 31, 2016