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