Transportation Inc. incurred rent expense of $98,000 during the year. Prepaid rent increased by $34,000 during the year. How much cash did Transportation pay for rent during the year?
Use the following abbreviations to indicate in which section of the statement of cash flows you would find each item below.
O = Operating Section
I = Investing Section
F = Financing Section
a. ____ Issuance of bonds payable
b. ____ Cash paid for interest
c. ____ Cash collected from customers
d. ____ Paid dividends
e. ____ Sold equipment
f. ____ Issued preferred stock
g. ____ Cash paid for inventory purchases
h. ____ Purchased an equity investment in another company
i. ____ Cash received from dividend income
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