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Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 74,000 Accounts receivable increase
Hampton Company reports the following information for its recent calendar year.
Income Statement Data | Selected Year-End Balance Sheet Data | ||||||
Sales | $ | 74,000 | Accounts receivable increase | $ | 10,000 | ||
Expenses: | Inventory decrease | 3,000 | |||||
Cost of goods sold | 41,000 | Salaries payable increase | 600 | ||||
Salaries expense | 13,000 | ||||||
Depreciation expense | 6,000 | ||||||
Net income | $ | 14,000 | |||||
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.)
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