Cheryl Alder operates her own catering service. Summary financial data for March are presented in equation form as follows. Each line designated by a number indicates the effect of a transaction on the balance sheet. Each increase and decrease in stockholders€™ equity, except transaction (4), affects net income.

a. Describe each transaction.
b. What is the amount of net decrease in cash during the month?
c. What is the amount of net increase in retained earnings during the month?
d. What is the amount of the net income for the month?
e. How much of the net income for the month was retained in the business?
f. What is the amount of net cash flows from operating activities?
g. What is the amount of net cash flows from investing activities?
h. What is the amount of net cash flows from financingactivities?

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Cash + Land = Liabilities + Capital Stock + Retained Earnings 16,000 24,000 40,000 100,000 100,000 +28,000 1. +28,000 2. 20,00o +20,000 3. 4. Bal. -18,000 -1,000 29,000 -18,000 -1,000 109,000 120,000 16,000 24,000