Exercise 16-2 (Static) 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 $ 160,000 Accounts receivable increase $ 10,000 Expenses: Inventory decrease 16,000 Cost of goods sold 100,000 Salaries payable increase 1,000 Salaries expense 24,000 Depreciation expense 12,000 Net income $ 24,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign.

Exercise 16-2 (Static) Indirect: Reporting cash flows from operations LO P2 Hampton Company reports the following information for its recent calendar year. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign