Below are several transactions for Meyers Corporation for 2012.

Required:
1. For each transaction, determine the amount of the inflow or outflow of cash (indicate inflows with a " + " and outflows with a " - "). 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.
3. Assuming the balance of cash on January 1, 2012, equals $4,400, calculate the balance of cash on December 31, 2012.

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Operating, Outflow of nvesting, or Financing? Inflow or Cash? Transaction a. Issue common stock for cash, $50,000. b. Purchase building and land with cash, $35,000. c. Provide services to customers on account, $7,000 d. Pay utilities on building, $1,000. e. Collect $5,000 on account from customers. f. Pay employee salaries, $9,000. g. Pay dividends to stockholders, $4,000. Net cash flows for the year