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8 April, 22:34

Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 71,000 Accounts receivable increase $ 6,000 Expenses: Inventory decrease 4,000 Cost of goods sold 38,000 Salaries payable increase 900 Salaries expense 11,000 Depreciation expense 6,000 Net income $ 16,000 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.)

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  1. 8 April, 23:09
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    Net Cash provided by Operating Activities $20,900.00

    Explanation:

    Cash Flows from Operating Activities

    Net Income $16,000.00

    Adjustments to reconcile Net Income:

    + Depreciation expenses.

    $6,000.00

    - Increase in Accounts receivables.

    ($6,000.00)

    +Decrease in Inventory

    $4,000.00

    +Increase in Salaries Payable.

    $900.00

    Net Cash provided by Operating Activities $20,900.00
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