Ethical Culture and Codes For this week's discussion, you are required to respond to one of the following questions: Question 1: What is the role of an ethical culture, and who is responsible for it? Question 2: Many professional accountants know of questionable transactions but fail to speak out against them. Can this lack of moral courage be corrected? How?

The blumer company entered into the following transactions during 2012: 1. the company was started with $22,000 of common stock issued to investors for cash. 2. on july 1, the company purchased land that cost $15,500 cash. 3. there were $700 of supplies purchased on account. 4. sales on account amounted to $9,500. 5. cash collections of receivables were $5,500. 6. on october 1, 2012, the company paid $3,600 in advance for a 12-month insurance policy that became effective on october 1. 7. supplies on hand as of december 31, 2010 amounted to $225. the amount of cash flow from investing activities would be: