Exercise 11-4B Determine proper classification (LO11-1) Wi-Fi, Inc., has the following selected transactions during the year Required Select the section of the statement of cash flows in which each of these items would b reported: operating activities (indirect method), investing activities,financing activities, or a separate noncash activities note. Activities 1. Exchanges land for equipment. Both are valued at $120,000. 2. Declares and pays a cash dividend of $50,000 3. Borrows $60,000 from the bank. 4. Pays a $15,000 account payable 5. Collects a $30,000 account receivable. 6. Pays $20,000 to suppliers for inventory 7. Sells equipment for $25,000 8. Purchases a patent for $40,000 References eBook & Resources Worksheet Difficulty: 2 Medium