a. Purchase bonds maturing in 20 years. The company intends to use the cash flow generated by the interest payments on the bond to provide employee bonuses. b. Common stock was purchased based on a recommendation from the CEO's broker. The broker believes the price will increase substantially over the next couple of months. c. An investment grade bond that matures in 8 years was purchased. The company will probably hold the bonds until they mature at which time the proceeds will be used to retire maturing debt. d. Five-year bonds of a troubled company were purchased this year for substantially below par value. The bonds mature in 2 months. e. Excess cash was used to purchase preferred stock. The preferred stock may need to be sold within the next year if a planned expansion is completed