Sally Fleming operates her own catering service. Summary financial data for February 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?

Capital Stock 24,000 Retained Land 100,000 Liabilities Cash Earnings Bal. 90,000 +25,000 30,000 +25,000 -20,000 -18,000 -3,000 14,000 16,000 1. 2. +20,000 3. 4. -18,000 120,000 Bal. 16,000 24,000 94,000