Classify each of the following transactions as an operating, investing, or financing activity or a noncash investing and financing activity.

1. Payment of salaries 

2. Purchase of land with cash 

3. Issuance of stock 

4. Repayment of long-term notes 

5. Payment of rent 

6. Collection of sales revenue 

7. Conversion of bonds payable to common stock 

8. Loss on the sale of equipment 

9. Purchase of another company’s stock (to be held for more than one year)

10. Purchase of merchandise inventory 

11. Proceeds from the sale of a building 

12. Payment of dividends 

13. Collection of interest income 

14. Purchase of treasury stock (company buys back its own stock)

15. Payment of interest on long-term debt.