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Hampton Company reports the following information for its recent calendar year. Selected Year-End Balance Sheet Data Income Statement Data Sales Expenses $77,000 Accounts receivable increase
Hampton Company reports the following information for its recent calendar year. Selected Year-End Balance Sheet Data Income Statement Data Sales Expenses $77,000 Accounts receivable increase Inventory decrease $6,000 3,000 700 Cost of goods sold Salaries expense Depreciation expense 40,000 Salaries payable increase 12,000 6,000 $19,000 Net income 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
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