3. Identify each of the following transactions as one of the following: Operating activity (O) Investing activity (0) Financing activity (F) Non-cash investing and financing activity (NIF) Transaction that is not reported on the statement of cash flows (N) For each cash flow, indicate whether the item increases (+) of decreases The indirect method is used to report cash flows. (25%) 1. Paid cash to purchase inventory 2. Purchased land by issuing common stock 3. Accounts receivable decreased in the year 4. Sold equipment for cash 5. Recorded depreciation expense 6. Income taxes payable increased in the year 7. Declared and paid a cash dividend 8. Accounts payable decreased in the year 9. Paid cash to settle notes payable 10. Prepaid expenses increased in the year 11. Sold inventory for cash 12. Paid cash to acquire treasury stock 13. Net income 14. Decrease in accrued liabilities 15. Increase in prepaid expenses