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