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Exercise 4-15 (Algo) Indirect method; reconciliation of net income to net cash flows from operating activities [LO4-8] The accounting records of Hampton Company provided
Exercise 4-15 (Algo) Indirect method; reconciliation of net income to net cash flows from operating activities [LO4-8] The accounting records of Hampton Company provided the data below ($ in thousands). Net income Depreciation expense Increase in accounts receivable Decrease in inventory $30,300 9,100 5,300 6,800 Decrease in prepaid insurance 1,850 Decrease in salaries payable 4,000 Increase in interest payable 1,250 Required: Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities $ 0
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