Characterize the following actions of a firm as financing, investing, or operating activities: Scenario Operating Activity Investing Activity Financing Activity __Sells a tract of land it has held for years
__Increases its use of trade credit from suppliers
__Improves profit margin and increases net income
__Issues new shares of preferred stock
__Tightens its credit policy with its customers
__Buys back shares of common stock
__Buys new equipment and machinery Issues new notes payable
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