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