Item3

1.42points

eBookHint

Print

References

Check my workCheck My Work button is now enabled3

Item 3

Hampton Company reports the following information for its recent calendar year.

Income Statement Data		Selected Year-End Balance Sheet Data
Sales	$ 79,000	Accounts receivable increase	$ 8,000
Expenses:		Inventory decrease	2,000
Cost of goods sold	37,000	Salaries payable increase	1,000
Salaries expense	14,000
Depreciation expense	6,000
Net income	$ 22,000

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.