Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End

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Hampton Company Reports The Following Information For Its Recent Calendar Year Income Statement Data Selected Year End 1 (36.78 KiB) Viewed 39 times

Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales Expenses: $ 73,000 Accounts receivable increase Inventory decrease 40,000 Salaries payable increase $ 8,000 3,000 600 12,000 Cost of goods sold Salaries expense Depreciation expense Net income i 8,000 $ 13,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to not cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities