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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