Flipping the classroom refers to moving lectures outside of the classroom to incorporate other activities into a class during its standard meeting time. This pedagogical modality has recently gained traction as a way to center the learning on students in mathematics classrooms. In an effort to better understand the efficacy of this approach, we implemented a controlled study at a small liberal arts college. We compared two sections of the entry-level course applied multivariable calculus I, with one section taught in a traditional lecture-based format and the other taught as a flipped classroom. During our study, we collected and analyzed data related to student performance, as well as perceptions of the approach and attitude toward mathematics in general. Students in both classes scored similarly on graded components of the course, and the majority of students were comfortable with the format of each section. However, some student perceptions and study habits differed.