For each of the following transactions reported on a statement of cash flows, indicate whether it would appear in the Operating Activities section (O), in the Investing Activities section (I), or in the Financing Activities section (F). Put an S in the blank if the transaction does not affect cash but is reported in a supplemental schedule of noncash activities. Assume that the company uses the direct method in the Operating Activities section.

_______ 1. A company purchases its own common stock in the open market and immediately retires it.
_______ 2. A company issues preferred stock in exchange for land.
_______ 3. A six-month bank loan is obtained.
_______ 4. Twenty-year bonds are issued.
_______ 5. A customer’s open account is collected.
_______ 6. Income taxes are paid.
_______ 7. Cash sales for the day are recorded.
_______ 8. Cash dividends are declared and paid.
_______ 9. A creditor is given shares of common stock in the company in return for cancellation of a long-term loan.
_______ 10. A new piece of machinery is acquired for cash.
_______ 11. Stock of another company is acquired as an investment.
_______ 12. Interest is paid on a bank loan.
_______ 13. Factory workers are paid.