Question: Below are several transactions for a company for 2024. Issue common stock for cash, $47,000. Purchase building and land with cash, $32,000. Provide services to

Below are several transactions for a company for 2024. Issue common stock for cash, $47,000. Purchase building and land with cash, $32,000. Provide services to customers on account, $6,700. Pay utilities on building, $850. Collect $4,700 on account from customers. Pay employee salaries, $8,700. Pay dividends to stockholders, $3,700. Required: 1.&2. For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether the company should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year. 3. Assuming the balance of cash on January 1, 2024, equals $4,100, calculate the balance of cash on December 31, 2024

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