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