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