I have to keep asking this because I never get a consistent answer. I've asked this before on here but I lost the account and can't find the page.

Below I will provide an example sentence in various forms to demonstrate what I mean. I want to see which punctuation is correct or most widely accepted. My assumption is an example will be correct along with example 4, which is the one I see used the most.

I'm most interested in knowing whether example 1 or example 2 is correct. I typically use example 1, treating the dialogue like a quotation.

I'm sure there's other ways to punctuate that I'm forgetting, so please tell me if you know what!

(Another question I have that's relevant to this is with quotations: whether the comma/full stop is placed inside or outside of the quotation marks. I assume it's dependent on whether there is a comma or full stop at the end of the quote itself, but I usually put commas and full stops on the inside.)

Example 1:

He flipped the pancake with a twist of his wrist and said, "Good morning," right as it hit the pan. 

Example 2:

He flipped the pancake with a twist of his wrist and said "Good morning" right as it hit the pan. 

Example 3:

He flipped the pancake with a twist of his wrist and said, "Good morning" right as it hit the pan. 

Example 4:

He flipped the pancake with a twist of his wrist and said, "Good morning!" right as it hit the pan. 

Keep in mind that I want to know how to punctuate a very particular kind of dialogue, so I'm not looking for suggestions that just move the dialogue to one end or split it into two sentences. By that, I mean I'm not looking for something like this:

He flipped the pancake with a twist of his wrist. "Good morning!" he said as it hit the pan. 

He flipped the pancake with a twist of his wrist and as it hit the pan he said, "Good morning."