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