18 All of the following activities would be included in a company's operating activities except a. payments to employees b. payment to a local government for property taxes e payment to suppliers d payment to the bank to reduce loan balance e payment to the landlord for rent 19. All of the following would be included in a company's investing activities except: a taking out a loan from the bank h purchase of equipment c. sale of another company's stock d. making loans to another company e sale of a building 20 All of the following would be included in a company's investing activities except: a purchase of land b. payment of dividends c. collection of loan repayments d. purchase of equipment e. purchase of another company's stock