Below are several transactions for White cloud Corporation for $2024.$

a$.$ Issue common stock for cash, $$48,000.$

b$.$ Purchase building and land with cash, $$33,000.$

c$.$ Provide services to customers on account, $$6,800.$

d$.$ Pay utilities on building, $$900.$

e$.$ Collect $$4,800$ on account from customers.

f$.$ Pay employee salaries, $$8,800.$

g$.$ Pay dividends to stockholders, $$3,800.$

Required:

$1.$&$2.$ For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether White cloud 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 $$4,200,$ calculate the balance of cash on December $31,2024.$

Complete this question by entering your answers in the tabs below.

Req $1$ and $2$

For each transaction, determine the amount of cash flows. If cash is involved in the transaction, indicate whether White cloud should classify it as operating, investing, or financing in a statement of cash flows. Calculate net cash flows for the year. $($Enter N$/$A if the question is not applicable to the statement. List cash outflows as negative amounts.$)$

$\backslash$table$[[$Transaction$,\backslash$table$[[$Cash Flows$],[$or Financing$]],,],[$Issue common stock for cash, $$48,000,$$$,48,000,$Financing$],[$Purchase building and land with cash, $$33,000,$$$,33,000,$Investing$],[$Provide services to customers on account, $$6,800.,$$$,6,800,$Operating$],[$Pay utilities on building, $$900.,$$$,(900),$Operating$]]$