Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Accounts receivable increase Inventory decrease Salaries payable increase Sales $77,000 $5, 000 3, 000 Expenses: Cost of goods sold Salaries expense Depreciation expense 38,000 8,000 6,000 600 Net income $25,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities
Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Accounts receivable increase Inventory decrease Salaries payable increase Sales $77,000 $5, 000 3, 000 Expenses: Cost of goods sold Salaries expense Depreciation expense 38,000 8,000 6,000 600 Net income $25,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Hampton Company reports the following information for its recent calendar year.
Income Statement Data
Sales
Expenses:
Cost of goods sold
Salaries expense
Depreciation expense
Selected Year-End Balance Sheet Data
Accounts receivable increase
$77,000
Inventory decrease
Salaries payable increase
$5,000
3,000
600
38,000
8,000
6,000
Net income
$25,000
Required:
Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be
indicated with a minus sign.)
hces
Statement of Cash Flows (partial)
Cash flows from operating activities
%24
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