Classify each of the following transactions as operating, investing, or financing. Use the following letters:

A. operational activity

B. investment activity

C. financing activity

D. It is not presented in the Statement of Cash Flows or disclosed in a note

1. Payment of property taxes
2. The company purchased land and a building and had to pay back property taxes on those assets.
3. Payment for freight in purchased raw materials
4. Payment for freight in manufacturing machinery purchased.
5. Purchase of financial instruments classified as cash equivalents.