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Check my Exercise 12-2 Indirect: Reporting cash flows from operations LO P2 Hampton Company reports the following information for its recent calendar year. Income Statement
Check my Exercise 12-2 Indirect: Reporting cash flows from operations LO P2 Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales $ 76,000 Expenses Cost of goods sold 41,000 Salaries expense 9,000 Depreciation expense 5,000 Net income $21,000 Selected Year-End Balance Sheet Data Accounts receivable increase $8,000 Inventory decrease 3,000 Salaries payable increase 1,000 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 $
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