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