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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 $75,000 Accounts receivable increase $8,000
Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $75,000 Accounts receivable increase $8,000 Expenses Inventory decrease 4,000 Cost of goods sold 36,000 Salaries payable increase 1,000 Salaries expense 14,000 Depreciation expense 7,000 Net income $18,000 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
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