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

Question

Hampton Company reports the following information for its recent calendar year Income Statement Data Selected Year-End Balance Sheet Data Sales Expenses $160,000 Accounts receivable increase Inventory decrease $10,900 16,900 1, 000 100,000 Salaries payable increase Cost of goods sold Salaries expense Depreciation expense 24,e00 12,000 Net income $ 24,008e 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.) Cash flows from operating activities

Explanation / Answer

Cash flows from operating activities: Net income 24000 Depreciation expense 12000 Increase in AR -10000 Decrease in inventory 16000 Increase in salaries payable 1000 Net Cash flows from operating activities $43000.

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