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Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales $73,000 Expenses Cost of goods sold 36,000 Salaries expense 13,000
Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales $73,000 Expenses Cost of goods sold 36,000 Salaries expense 13,000 Depreciation 7,000 expense Net income $17,000 Selected Year-End Balance Sheet Data Accounts receivable $9,000 increase Inventory decrease 4,000 Salaries payable 1,000 increase Required: Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities $ 0
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