ACCOUNT 244 - Introduction to Financial Accounting Homework_Chapter 3 Problem #1: During 2018, its first year of operations as a delivery service, Icelandic Corp. entered into the following transactions: 1. Issued shares of common stock to investors in exchange for $150,000 in cash. 2. Borrowed $25,000 by issuing bonds (long-term debt). 3. Purchased delivery trucks for $50,000 cash. 4. Received $18,000 from customers for services performed. 5. Purchased supplies for 54,900 on account. 6. Paid rent of $5,100. 7. Performed services on account for $10,000 B. Paid salaries of $17,000. 9. Paid a dividend of $1,500 to shareholders. Required: Complete the following chart including identify whether the transaction is an operating, investing, or financing activity. LIABILITIES SHAREHOLDERS' EQUITY 0,1,F Common Supplies - Equipment Expenses ASSETS Accounts LT Retained Earnings Accounts Recble Debt Stock Payable Revenues Dividends Activity Cash 1. 150,000 2. 25,000 (50,0001 J. 4 18,000 5 6. (5,100)