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