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Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End...

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 $ 5,000
Expenses Inventory decrease 4,000
Cost of goods sold 36,000 Salaries payable increase 800
Salaries expense 11,000
Depreciation expense 7,000
Net income $ 24,000

Required:Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method.

Cash flows from operating activities
$0
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Answer #1
Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method.
Cash flows from operating activities
Net Income 24000
Add : Non cash expenditure
Depreciation 7000
Net cash flows from operating activities before effect of working capital changes 31000
Add / less : Working capital changes
Increase in accounts receivable -5000
Decrease in inventory 4000
Increase in salary payable 800
Net cash flow from operating activities 30800
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