Identifying Financial Activities. Learning to correctly identify activities is necessary for the proper recording transactions. Properly recording transactions in turn, leads to a proper analysis of financial performance and financial position.\ For each of the activities listed below, properly identify it as a financing (F), investing (I), or operating (O) activity. (13 points)\ \\\\table[[\\\\table[[Type of],[Activity]],Activity Example],[,Paying the cell phone bill.],[,Buying a new tractor.],[,Selling milk to a dairy processor.],[,Borrowing money from a bank.],[,Buying feeder pigs to raise to market weight.],[,Money earned from a part-time job is deposited in the farm's debit account.],[,Purchasing enough fuel to last for months.],[,Selling some breeding cattle to another cattle rancher.],[The farm owner uses money from the farm's savings account to buy football tickets.,],[,The farm owner inherits 100 acres of land and expands the farm's acreage.],[,Selling market lambs to a meat packing house.],[Buying a breeding bull with the cash proceeds from the bank loan.,],[,Making a loan payment.]]\ Financial Statement Categories. Understanding what financial information goes where is essential for properly preparing financial statements. For each account category listed below identify the financial statement on which it would appear. NOTE: Only the Income Statement and Balance Sheet have designated categories in their format. (7 points)\ \\\\table[[Account Category,Income Statement or Balance Sheet],[Assets,],[Equity,],[Expenses,],[Gains,],[Liabilities,],[Losses,],[Revenues,]]

2. Identifying Financial Activities. Learning to correctly identify activities is necessary for the proper recording transactions. Properly recording transactions in turn, leads to a proper analysis of financial performance and financial position. For each of the activities listed below, properly identify it as a financing (F), investing (I), or operating (O) activity. (13 points) 3. Financial Statement Categories. Understanding what financial information goes where is essential for properly preparing financial statements. For each account category listed below identify the financial statement on which it would appear. NOTE: Only the Income Statement and Balance Sheet have