Exercise 12-2 Indirect: Reporting cash flows from operations LO P2

Exercise 12-2 Indirect: Reporting cash flows from operations LO P2 Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $75,000 Accounts receivable Increase $10,000 Expenses Inventory decrease 3,000 Cost of goods sold 40,000 salaries payable increase 100 Salaries expense 13,000 Depreciation expense 5.000 Net income $17,000 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