Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales...
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Accounting
Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales $74,000 Expenses: Cost of goods sold 42,000 Salaries expense 10,000 Depreciation expense 8,000 Net income $14,000 Selected Year-End Balance Sheet Data Accounts receivable increase $8,000 Inventory decrease 5,000 Salaries payable increase 900 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted shoul indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities
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