A Part 4 C D Answer all the questions in the spaces provided (Yellow cells) Hunter Company is developing its annual financial statements at December 31, 2020. F G ] K L M N The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized below: 2020 2019 7 Balance Sheet at December 31 8 Cash 12,250 6,300 9 Accounts Receivable 3,450 4,950 10 11 12 13 14 Inventory Property, plant and equipment Less: Accumulated depreciation Patent, net Goodwill, net 7,350 5,850 39,600 24,300 -13,500 -5,400 2,000 0 6,300 9,000 15 57,450 45,000 16 17 18 19 Accounts payable Wages payable Long-term notes payable 4,250 6,750 6,500 4,500 18,000 13,500 20 Contributed capital 18,750 15,750 21 Retained earnings 9,950 4.500 22 57.450 45,000 23 24 Income Statement for 2020 25 Sales 135,000 26 Cost of Goods Sold -78,300 27 Depreciation expense -8,100 28 Impairment loss - Goodwill -2,700 32 88d888 Wages expense -16,200 Other expenses -20,250 Net Income 9,450 25 1 Additional information concerning transactions and events during 2020: Bought truck for cash 2 Acquired natant for cach INSTRUCTION $ 10,800 2000 on Dec 31, 2020 Part 1 Part 2 Part 3 Part 4 + 1234565 P Q R S T U 42 A C D E F G H ] K L M N P Q R 43 44 Statement of Cash Flows Cash flows from operating activities 45 46 47 48 49 50 51 52 53 54 55 56 Cash flows from operating activities| 57 58 Cash flows from investing activities 59 60 61 62 Cash flows from investing activities 63 64 Cash flows from financing activities 65 66 67 68 Cash flows from financing activities 69 70 71 72 73 74 Supplemental Disclosures for non-cash investing and financing activities (if any) 75 76 INSTRUCTION Part 1 Part 2 Part 3 Part 4 + S T U S 33 A C D E F G H ] K L M N P Q R Additional information concerning transactions and events during 2020: 34 1 Bought truck for cash $ 10,800 35 2 Acquired patent for cash $ 2,000 on Dec 31, 2020 36 3 Paid cash dividends of $ 4,000 37 4 Purchased machinery by signing a $ 38 5 Issued new shares for $ 4,500 long-term note payable. 3,000 cash 39 40 42 43 Instruction: 41 [15 Marks] Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. Statement of Cash Flows 44 Cash flows from operating activities 45 46 47 48 49 50 51 52 53 54 55 56 Cash flows from operating activities| 57 58 Cash flows from investing activities 59 60 61 62 Cash flows from investing activities 63 64 Cash flows from financing activities 65 66 67 INSTRUCTION Part 1 Part 2 Part 3 Part 4 + T U