7. value: 2.16 points CP12-3 Preparing a Statement of Cash Flows (Indirect Method)[LO 12-2, LO 12-3, LO 12-4, LO 12-5] Hunter Company is developing its annual financial statements at December 31, 2015. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized Balance Sheet at December 31 S 46,550 15,500 24,000 31,000 97,000 Accumulated Depreciation-Equipmen(35,000) 27,500) Cash Accounts Receivable 22,500 25,500 105,500 Equipment $165,050 $140,000 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings $ 22,000 19,500 1,000 43,000 55,000 21,500 850 33,000 77,500 31,700 $165,050 $140,000 Income Statement for 2015 Sales Revenue Cost of Goods Sold Other Expenses $115,000 68,500 33,000 Net Income S 13,500 Additional Data: a. Bought equipment for cash, S8,500 b. Paid $10,000 on the long-term note payable c. Issued new shares of stock for $22,500 cash. d. Declared and paid a $3,300 cash dividend e. Other expenses included depreciation, $7,500; salaries and wages, $11,500; taxes, $4,500; utilities, S9,500 f. Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required 1. Prepare the statement of cash flows for the year ended December 31, 2015, using the indirect method (Amounts to be deducted should be indicated with a minus sign.)