Classify the following cash flows as operating, investing, or financing activities.

1 Sold long-term investments for cash. 6. Issued common stock for cash.

2 Received cash payments from customers. 7. Received cash interest on a note.

3 Paid cash for wages and salaries. 8. Paid cash interest on outstanding bonds.

4 Purchased inventories for cash. 9. Received cash from sale of land at a loss.

5 Paid cash dividends. 10. Paid cash for property taxes on building.

AppendixLO1