When using the direct method to determine operating cash flows, how is the purchase of equipment for cash shown on the Statement of Cash Flows? a. investing activity X Ob. operating activity c. noncash investing and financing activity Od. not reported on the statement of cash flows financing activity e. When using the direct method to determine operating cash flows, how is depreciation expense recorded on the Statement of Cash Flows? a. financing activity Ob. operating activity c. noncash investing and financing activity X Od. investing activity e. not reported on the statement of cash flows