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Question 1 of6 / 1 View Policies Current Attempt in Progress The following is a list of transactions that took place during the year: 2-i. 2-ii. 3-i. 10. (a) (bi (Cl Paid salaries to employees. Sold land for cash. Gain on sale of land. Purchased a building by making a down payment in cash. Purchased a building by signing a mortgage payable forthe balance. Made a blended principal re payment on the mortgage. Made a blended interest payment on the mortgage. Paid interest on the mortgage. Issued common shares for cash. Purchased shares of another company to be held as a long-term non-strategic investment. Paid dividends to shareholders. Sold inventory on account, at a price greater than cost. The company uses a perpetual inventory system. Wrote down the cost of inventoryto its net realizable value. Classify each of the above transactions as an operating activity, investing activity, nancing activity, or noncash investing and nancing activity. If it does not t into one of these classications, indicate that there is no effect. The rst one has been done for you as an example. Specify if the transaction will result in a cash receipt, cash payment, or have no effect on cash. Indicate if the transaction will increase, decrease, or have no effect on net income. Question 1 of 6