Harold Company reports the following information for its recent calendar year.
|
Sales |
$70,000 |
|
Expenses |
|
|
Cost of goods sold |
40,000 |
|
Salaries expense |
12,000 |
|
Depreciation expense |
6,000 |
|
Net income |
$12,000 |
|
Accounts receivable increase |
$ 9,000 |
|
Inventory decrease |
3,000 |
|
Salaries payable increase |
800 |
Required
Prepare the operating activities section of the statement of cash flows for Harold Company using the indirect method.
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