I. Exercise 8-9 Impact of Transactions Involving Operating Assets on Statement of Cash Flows

From the following list, identify each item as operating (O), investing (I), financing (F), or not separately reported on the statement of cash flows (N).

________ Purchase of land

________ Proceeds from sale of land ________ Gain on sale of land

________ Purchase of equipment

________ Depreciation expense

________ Proceeds from sale of equipment

________ Loss on sale of equipment