Selected transactions of Elway Company are listed below. Classify each transaction as either (O) an operating activity, (I) an investing activity, (F) a financing activity, or (NC) a non-cash investing and financing activity, by placing the appropriate letter in the space next to the transaction.

Common stock is sold for cash above par value Interest on a short-term note receivable is collected Cash is paid to purchase inventory Cash dividends on common stock are paid Land is sold for cash at book value Bonds payable are issued for cash at a discount Merchandise is sold to customers for cash Equipment is purchased by signing a 3-year, 10% note payable 100 shares of XYZ common stock are purchased for cash Bonds payable are converted into common stock