Rayya co. purchases and installs a machine on january 1, 2017, at a total cost of $105,000. straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. the machine is disposed of on july 1, 2021, during its fifth year of service.

Selected transactions of the carolina company are listed below. classify each transaction as either an operating activity, an investing activity, a financing activity, or a noncash activity. 1. common stock is sold for cash above par value. 2. bonds payable are issued for cash at a discount