Classifying events as asset source, use, or e x change Nevada Company experienced the following events during its first year of operations:
Acquired $1,000 cash from the issue of common stock.
Paid $24 cash for utilities expense.
Paid a $1,500 cash dividend to the stockholders.
Provided boarding services for $6,000 cash.
Purchased additional land for $2,500 cash.
Determined the market value of the land to be $24,000 at the end of the accounting period.
Acquired an additional $16,000 cash from the issue of common stock.
Paid $3,500 cash for salary expense.
Borrowed $10,000 cash from New South Bank.
Paid $6,000 cash to purchase land.
Provided additional boarding services for $10,500 cash.
Required
Classify each event as an asset source, use, or exchange transaction or as not applicable.

Exercise 12-7 shown below are comparative balance sheets for flint corporation. flint corporation comparative balance sheets december 31 assets 2017 2016 cash $ 201,348 $ 65,142 accounts receivable 260,568 225,036 inventory 494,487 559,629 land 236,880 296,100 equipment 769,860 592,200 accumulated depreciation—equipment (195,426 ) (94,752 ) total $1,767,717 $1,643,355 liabilities and stockholders’ equity accounts payable $ 115,479 $ 127,323 bonds payable 444,150 592,200 common stock ($1 par) 639,576 515,214 retained earnings 568,512 408,618 total $1,767,717 $1,643,355 additional information: 1. net income for 2017 was $275,373. 2. depreciation expense was $100,674. 3. cash dividends of $115,479 were declared and paid. 4. bonds payable amounting to $148,050 were redeemed for cash $148,050. 5. common stock was issued for $124,362 cash. 6. no equipment was sold during 2017. 7. land was sold for its book value. prepare a statement of cash flows for 2017 using the indirect method.