Please show the calculation steps.

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Question 3 Classification of cash flows Indicate how each of the following events should be classified in a statement of cash flows for the current calendar year. Use the following code: O = operating activities, I = investing activities, and F = financing activities Assume use of the direct method. If the event does not involve a cash flow that should be included in the statement of cash flows, use an X. 3.1. Paid an account payable for inventory purchased in a prior accounting period = 3.2. On December 28, made a large credit sale; terms, 210, n/30 = 3.3. Received a dividend from an investment in IBM common stock = 3.4. Paid a dividend to stockholders = 3.5. Paid the interest on a note payable to First Bank = _ 3.6. Paid the principal amount due on the note payable to Firs 3.7. Transferred cash from a checking account into a money market fund = 3.8. Made an adjusting entry to record accrued wages payable at the end of the period = 3.9. Recorded depreciation expense for the current year = 3.10. Purchased plant assets for cash = ank = Question 4 Selected information from the financial statements of Cake Co. appears below: 2015 Net Sales $ 1,692,000 $1,600,000 Total Expenses $1,470,000 $1,520,000 Net Income $222,000 $80,000 2014 4.1. Compute the percentage change in each of the above items from 2014 to 2015. Use a + or - to indicate increase or decrease. (Show all calculations) Percentage change from 2014 to 2015 Net Sales % Total Expenses % Net Income 4.2. Compute net income as a percentage of net sales in each year. (Round to the nearest one-tenth of 1%) (Show all calculations) net income as a percentage of net sales for 2014 = a net income as a percentage of net sales for 2015 = %