Below are several transactions for Meyers Corporation for 2012.

Required:
1. For each transaction, determine the amount of cash flows. Indicate inflows with a €œ+€ and outflows with a €œ€“.€If cash is involved in the transaction, indicate whether Meyers should classify it as operating, investing, or financing in a statement of cash flows.
2. Calculate net cash flows for the year. Enter N/A if the question is not applicable to the statement.
3. Assuming the balance of cash on January 1, 2012, equals $5,000, calculate the balance of cash on December 31,2012.

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Operating, Investing, or Financing? Transaction Cash Flows a. Issue common stock for cash, S168,000 b. Purchase building and land with cash, S120,000 c. Provide services to customers on account, S27,000. d. Pay utilities on building, $1,820. e. Collect S6,700 on account from customers f. Pay employee wages, S8,300. g. Pay dividends to stockholders S3,950. Net cash flows for the year