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