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