Hampton Company reports the following information for its recent calendar year Iecue Stateent Data Sales Expenses...

Transcribed Image Text:

Hampton Company reports the following information for its recent calendar year Iecue Stateent Data Sales Expenses Cost of goods sold Salaries expense Deprecistion expense Selected Year-End balance Sheet Date $ 79,000 Accounts recelveble increase $ 9,000 3,000 Inventory decrease 6,000 Salarles payable increase 11,000 6,000 700 Net Incone $26,000 Required: Prepare the operating activities section of the statement of cash flows using the edirect method (Amounts to be deducted should be indicated with a minus sign.) Statement ut Cash Flows (partisf Cash flows from operating activities-hirect method Adjustments to reconcile nt income to net cash provided by operating activities Ancome statement tems not affecting cash Changes in current operating asoets and labilies Hampton Company reports the following information for its recent calendar year Iecue Stateent Data Sales Expenses Cost of goods sold Salaries expense Deprecistion expense Selected Year-End balance Sheet Date $ 79,000 Accounts recelveble increase $ 9,000 3,000 Inventory decrease 6,000 Salarles payable increase 11,000 6,000 700 Net Incone $26,000 Required: Prepare the operating activities section of the statement of cash flows using the edirect method (Amounts to be deducted should be indicated with a minus sign.) Statement ut Cash Flows (partisf Cash flows from operating activities-hirect method Adjustments to reconcile nt income to net cash provided by operating activities Ancome statement tems not affecting cash Changes in current operating asoets and labilies

Answer rating: 100% (QA)

A 1 Cash flow from operating activities 2 Net income 2 26000 3 Adjustment to reconcil... View the full answer