Garrison Corporation Has the Following Transactions

Multiple Choice

Garrison Corporation has the following transactions:
1) Dividends are paid to the shareholders.
2) A utility bill for July is paid in August.
3) A new warehouse facility is purchased
4) Principal payments on outstanding debt are paid.
5) Employees wages are paid.
6) Forty-five units of inventory are sold for $100 each
7) Common stock is issued for $230,000 in cash.
8) A delivery van used for 5-years is sold for $12,000, which is its book value.
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Which of the above transaction(s) are examples of operating activities?

A) 2,3,5
B) 5,6,8
C) 2,3,5,6,8
D) 2,5,6