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