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