In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.)

a. borrowed from the bank for business loan

b. declared dividends, to be paid next year

c. purchased treasury stock

d. purchased a two-year insurance policy

e. purchased plant assets