Try another version of this question Lee Corporation is preparing its statement of cash flows by the indirect method. Lee Corporation has the following items for you to consider in preparing the statement: Identify each item as a(n):
Cash Flow Items Classification Gain on sale of building Loss on sale of land Purchase of equipment Decrease in accounts payable Depreciation expense Increase in accounts payable Increases in merchandise inventory Issuance of common stock Decrease in accrued liabilities Payment of dividends Cash Flow Items Classification Gain on sale of building Operating - Loss on sale of land Operating + Purchase of equipment Investing - Decrease in accounts payable Operating - Depreciation expense Operating + Increase in accounts payable Operating + Increases in merchandise inventory Operating - Issuance of common stock Financing + Decrease in accrued liabilities Operating - Payment of dividends Financing -