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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 $ 70, 080 Accounts receivable
Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 70, 080 Accounts receivable increase $ 8,808 Expenses : Inventory decrease 5,090 Cost of goods sold 39,080 Salaries payable increase Salaries expense 13, 080 Depreciation expense 8, 080 Net income $ 19, Gee 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.) 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
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