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Hampton Company reports the following information for its recent calendar year. Prepare the operating Exercise 16- activities section of the statement of cash flows using the indirect method. Indirect: Repo flows from ope Income Statement Data Selected Year-End Balance Sheet Data P2 Sales...... $160,000 Accounts receivable increase. $10,000 Expenses: Cost of goods sold.. 100,000 Inventory decrease 16,000 Salaries expense. 24,000 Salaries payable increase.. 1,000 Depreciation expense. 12,000 Net Income.. $ 24,000