Below are several transactions for Meyers Corporation for 2024.

Required:
1. For each transaction, determine the amount of cash flows (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. Enter N/A if the question is not applicable to the statement.
2. Calculate net cash flows for the year.
3. Assuming the balance of cash on January 1, 2024, equals $5,400, calculate the balance of cash on December 31, 2024.

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Transaction a. Issue common stock for cash, $60,000. b. Purchase building and land with cash, $45,000. c. Provide services to customers on account, $8,000. d. Pay utilities on building, $1,500. e. Collect $6,000 on account from customers. f. Pay employee salaries, $10,000. g. Pay dividends to stockholders, $5,000. Net cash flows for the year Cash Flows Operating, Investing, or Financing?