Need help with Part B.

Exercise 16-11 (Static) Reconstructed entries LO P3 For each of the following separate transactions: 1. Sold a bullding costing $30,000, with $20,000 of accumulated depreciation, for $8,000 cash, resulting in a $2,000 loss 2. Acquired machinery worth $10,000 by issuing $10,000 in notes payable. 3. Issued 1,000 shares of common stock at par for $2 per share. 4. Long-term notes payable with a carrying value of $40,000 were retired for $47,000 cash, resulting in a $7,000 loss. (a) Prepare the reconstructed journal entry. (b) Identify the effect it has, if any, on the investing section or financing section of the statement of cash flows. Complete this question by entering your answers in the tabs below. Identify the effect it has, if any, on the investing section or financing section of the statement of cash flows. Note: Amounts to be deducted should be indicated by a minus sign