Identify whether the transaction is a financing, investing, or operating activity.

a. Compton purchased a tract of land from Jacobsen Real Estate for $886,000 cash.

b. Compton issued 2,000 shares of its common stock to George Micros in exchange for $100,000 cash.

c. Compton purchased a John Deere tractor for $53,000 on credit.

d. Michael Rotunno paid Compton $8,500 cash for services performed. The services had been performed by Compton several months ago for a total price of $10,000 of which Rotunno had previously paid $1,600.

e. Compton paid its monthly payroll by issuing checks totaling $27,550.

f. Compton declared and paid its annual dividend of $12,000 cash.