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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 $ 78,000 Accounts receivable increase
Hampton Company reports the following information for its recent calendar year.
Income Statement Data | Selected Year-End Balance Sheet Data | ||||||
Sales | $ | 78,000 | Accounts receivable increase | $ | 5,000 | ||
Expenses | Inventory decrease | 4,000 | |||||
Cost of goods sold | 36,000 | Salaries payable increase | 800 | ||||
Salaries expense | 11,000 | ||||||
Depreciation expense | 7,000 | ||||||
Net income | $ | 24,000 | |||||
Required:Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method.
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