For each of the following transactions, indicate whether operating (O), investing (I), or financing activities (F), or none of the activities (NE) are affected and whether the effect is a cash inflow (+) or outflow (), or (NE) if the transaction has no effect on cash. TIP: Think about the journal entry recorded for the transaction. The transaction affects net cash flows if and only if the account Cash is affected.

Transaction Activity Cash Flow1. Purchased new equipment with cash.2. Recorded and paid income taxes to the federal government.3. Issued shares of stock for cash.4. Prepaid rent for the following period.5. Paid cash to repurchase stock into treasury.6. Issued long-term promissory notes for cash.7. Collected payments on account from customers.8. Recorded and paid salaries and wages to employees.