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3. Selected transactions for the Locey Company are listed below. 1. Collected accounts receivable. 2. Declared and paid dividends on common stock. 3. Sold long-term investments for cash. 4. Issued stock for equipment. 5. Repaid five year note payable. 6. Paid employee wages. 7. Converted bonds payable to common stock. 8. Acquired long-term investment with cash. 9. Sold buildings and equipment for cash. 10. Sold merchandise to customers, Instructions Classify each transaction as either (a) an operating activity, (b) an investing activity, (c) a financing activity, or (d) a noncash investing and financing activity. 1. Operating activity 6. Operating activity 2. Financing activity 7. Noncash activity Investing activity 8. Investing activity Noncash activity 9. Investing activity 5 Financing activity 10. Operating activity 3. 4