What is the reporting purpose of the statement of cash flows

There is one question and two problems. Total assignment is worth 14 points.Question1. What is the reporting purpose of the statement of cash flows? Identify at least twoquestions that this statement can answer.P1.The statement of cash flows is one of the four primary financial statements.1. Describe the content and layout of a statement of cash flows, including the name ofthe three sections.2. List at least three transactions or information that would be classified as operatingactivities in a statement of cash flows assuming the company uses the indirect methodto prepare the section of the statement.3. List at least three transactions classified as investing activities in a statement of cashflows.4. List at least three transactions classified as financing activities in a statement of cashflows.P2.The following transactions and events occurred during the year. Assuming that this companyuses the indirect method to report cash provided by operating activities, indicate where each itemwould appear on its statement of cash flows by placing an “X” in the appropriate column. Thereshould only be one X for each question.Statement of Cash FlowsOperatingActivitiesa. Declared and paid acash dividendb. Recordeddepreciation expensec. Paid cash to settlelong-term notepayabled. Prepaid expensesincreased in the yearas a result ofcompany payingcash for expenses inadvancee. Accounts receivabledecreased due tocash received.f. Purchased land byissuing common stockg. Used cash topurchase inventoryh. Sold equipment forcash.i. Accounts payabledecreased in the yearas the company usedcash to pay off AP.InvestingActivitiesFinancingActivitiesNoncashInvesting &FinancingActivities