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 Payment of dividends Gain on sale of building Issuance of common stock Decrease in accrued liabilities Depreciation expense Increases in merchandise inventory Increase in accounts payable Decrease in accounts payable Loss on sale of land Purchase of equipment Cash Flow Items Classification Payment of dividends Financing - Gain on sale of building Operating - Issuance of common stock Financing + Decrease in accrued liabilities Operating - Depreciation expense Operating + Increases in merchandise inventory Operating - Increase in accounts payable Operating + Decrease in accounts payable Operating - Loss on sale of land Operating + Purchase of equipment Investing -