Indicate the impact of the following corporate actions on cash, using the letter I for an increase, the letter D for a decrease, or the letter N when no change occurs.

a. A dividend is paid with funds received from a sale of debt.

b. Real estate is purchased and paid for with short-term debt.

c. Inventory is bought on credit.

d. A short-term bank loan is repaid.

e. Next year’s taxes are prepaid.

f. Preferred stock is redeemed.

g. Sales are made on credit.

h. Interest on long-term debt is paid.

i. Payments for previous sales are collected.

j. The accounts payable balance is reduced.

k. A dividend is paid.

l. Production supplies are purchased and paid for with a short-term note.

m. Utility bills are paid.

n. Cash is paid for raw materials purchased for inventory.

o. Marketable securities are sold.