Which of the following is NOT considered an operating activity?

Issuing stocks is not classified as an operating activity because it pertains to financing rather than the day-to-day operations of a business. Operating activities are primarily concerned with transactions that affect a company's core business operations, such as buying and selling goods or services, and managing costs related to production and administration.

In contrast, purchasing inventory, paying salaries, and collecting customer payments directly relate to the operational cycle of a business. These activities influence the income statement as they impact revenue generation and expense incurrence, which are critical for determining the profitability of the business. By focusing on operations, businesses can maintain healthy cash flows and ensure sustainability in their core functions.