Friday, 24 February 2017

Hampton Company reports the following information for its recent calendar year

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

Income Statement Data Selected Year-End Balance Sheet Data

 
  Sales$78,000         Accounts receivable increase$8,000     
  Expenses      Inventory decrease4,000     
      Cost of goods sold36,000         Salaries payable increase800     
      Salaries expense13,000          
      Depreciation expense6,000       
 
   
  Net income$  23,000          
 

      


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.)




Explanation:

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