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anvas Following are selected balance sheet accounts of Pacific Corp. at December 31, 2024 and 2023, and the increases or decreases in each account from 2023 to 2024. Also presented is selected income statement information for the year ended December 31, 2024, and additional information. Selected Balance Sheet Accounts Assets Accounts receivable Inventory Prepaid insurance Property, plant, and equipment Accumulated depreciation Liabilities and Stockholders' Equity Accounts payable Deferred tax liability 2024 $40,000 15,000 7,000 489,000 (200,000) 36,000 4,000 100.000 2023 $28,000 21,000 4,000 440,000 (164,000) 40.000 6,000 100.000 Increase (Decrease) $12,000 (6,000) 3.000 49,000 36,000 (4.000) (2,000) x Bonds payable Bond discount Common stock, $1 par Additional paid-in capital Retained earnings 100,000 (3,000) 33,000 141,000 71,000 100,000 (4,000) 30,000 120,000 77,000 (1,000) 3,000 21,000 (6,000) Selected Income Statement Information for the Year Ended December 31, 2024 Sales revenues Cost of goods sold Insurance expense Depreciation expense Interest expense Gain on sale of equipment Income tax expense $324,000 (125,000) (16,000) (54,000) (10.000) 11.000 (32.000) anvas x Bonds payable Income tax expense Net income Additional Information: (32,000) 98,000 Canvas x x 0101B Amount Category 1. Accounts receivable relate to sales Of merchandise. 2. During 2024, equipment costing $52,000 was sold for cash. 3. During 2024, Pacific issued a 10% stock dividend (3,000 shares). The market price of the $1 par value common stock was $8 per share at that time. Required: (do not enter dollar sign; do not add a comma when entering an amount; Amounts to be deducted should be indicated with a minus sign) Items 1 through 8 represent activities that will be reported in Pacific's statement of cash flows for the year ended December 31, 2024. The following two responses are required for each item: 1. Determine the amount that should be reported in Pacific's 2024 statement of cash flows. 2. Select the category (i.e., O - Operating activity, I - Investing activity and F - Financing activity) in which the amount should be reported in the statement of cash flows. Category I) 2) 3) Cash collections from customers Cash paid to suppliers Cash paid for insurance 4) Cash paid for interest 5) Cash paid forincome tax Proceeds from sale Of equipment I) 2) Cash collections from customers Cash paid to suppliers 7) 8) ? ause ESC Payments for purchase of property. plant. and equipment Cash dividends paid LOJI"