For each of the following items, identify which part of the transformation process is involved. Use F to indicate a financing activity, I to indicate an investing activity, or O to indicate an operating activity.
a. ____New manufacturing equipment was purchased for installation in the factory.
b. ____Three new salespersons were hired.
c. ____A loan was obtained from a local bank.
d. ____A $500 down payment was received from a customer on goods sold.
e. ____The Human Resources department hired three new employees.
f. ____The company’s worn-out delivery truck was sold to the junk yard for $400.
g. ____The owner contributed more cash to the business.
h. ____Refunds totaling $450 were given to several customers.
i. ____Goods were shipped to a customer in a neighboring state.
j. ____The remaining balance of a loan was repaid in full.