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1.Hampton Company reports the following information for its recent calendar year
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 160,000Expenses Cost of goods sold . . . . . . . . 100,000Salaries expense . . . . . . . . . . . . . . . . . . 24,000Depreciation expense . . . . . . . . . . . . . . 12,000Net income . . . . . . . . . . . . . . . . . . . . . . $ 24,000Accounts receivable increase . . . . . . . . $ 10,000Inventory decrease . . . . . . . . . . . . . . . . 16,000Salaries payable increase . . . . . . . . . . . . 1,000Required:
Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method.
Prepare an income statement and an owner's equity statement for the year ending December 31, 2012, and a balance sheet at December 31.
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