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. Purchase of portfolio shares 2. Purchase of shares issued by another company 3. Sale of bonds payable (bond issue) 4. Sale of available-for-sale bonds 5. Sale of bonds to negotiate (trading) 6. Collection of compensation for inventory destroyed by fire 7. Payment of the premium of a life insurance policy, portion corresponding to the expense. 8. Payment of the premium of a life insurance policy, portion corresponding to the cash value (cash surrender value) of the policy. 9. Purchase of land in exchange for common shares 10. Purchase of bonds to trade 11. Balance of zero-coupon bonds payable, portion corresponding to accrued interest 12. Balance of zero-coupon bonds payable, principal portion 13. Payment for rent 14. Cash purchase of raw materials for manufacturing 15. Collection of dividends from an investment in shares accounted for using the equity method. 16. Payment of property taxes 17. The company purchased land and a building and had to pay back property taxes on those assets. 18. Payment for freight in purchased raw materials 19. Payment for freight in manufacturing machinery purchased. 20. Purchase of financial instruments classified as cash equivalents.