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Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales Expenses: Cost of goods sold Salaries expense Depreciation expense
Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales Expenses: Cost of goods sold Salaries expense Depreciation expense Net income $ 74,000 Accounts receivable increase Selected Year-End Balance Sheet Data Inventory decrease $ 8,000 4,000 800 39,000 Salaries payable increase 12,000 8,000 $ 15,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities-indirect method 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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