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.