Classify the following cash flows as either operating, investing, or financing activities, assuming the indirect method. Cash Flow Activity 1. Paid long-term debt with cash. 2. Issued preferred stock for cash. 3. Paid cash dividends. 4. Received cash payments from customers. 5. Purchased inventories with cash. 6. Paid cash interest on outstanding notes. 7. Received cash dividends from investments. 8. Paid accounts payable with cash. 9. Received cash from sale of land. 10. Cash paid to purchase long-term investments