Chapter 1 Homework Assignment Saved Help Save & Exit Submit Check my work 4 Exercise 1-22A (Algo) Prepare a statement of cash flows LO 1-9 2.5 points All-Star Automotive Company experienced the following accounting events during Year 2: eBook 1. Performed services for $14,400 cash. 2. Purchased land for $7,400 cash. 3. Hired an accountant to keep the books. 4. Received $34,000 cash from the issue of common stock. 5. Borrowed $8,800 cash from State Bank. 6. Paid $4,400 cash for salary expense. 7. Sold land for $8,800 cash. 8. Paid $3,400 cash on the loan from State Bank. 9. Paid $4,600 cash for utilities expense. 10. Paid a cash dividend of $1,400 to the stockholders. et Hint Print Roller Required a. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or not applicable (NA). References Event Classification 1 2 3. 4. 5. 6 7. 8. 9. 10 Chapter 1 Homework Assignment i 5aved Help Save & Exit Submit Check my work 4 b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $9,400. (Amounts to be deducted should be indicated with a minus sign.) 2.5 points ALL-STAR AUTOMOTIVE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: eBook Hint $ 0 Print Net cash flow from operating activities Cash flows from investing activities: References $ 0 Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities 0 Ending cash balance 0