Check CP12-3 (Algo) 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. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized 115 Current Year Prior Year Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and was payable Notes Payable (long) Common Stoel Retained terning Total tables and Stockholders tout Incoee Statent current year) soles Revenue cost of Good Toit other EXO et inte 544,770 20,700 23.700 103,300 4200 5 158,270 20. 670 29,000 96,50 1.100 5155,270 $14,500 22,000 29,000 95,000 126,500) 134,000 $ 10,500 1,000 13,000 53000 20.500 5 114,000 Additional Data: a Bought equipment for cash, $8.300 D) Paid $12,000 on the long-term notes payable. c Issued new shares of stock for $23,500 cash d: Declared and paid a $3.100 cash dividend. e Other expenses included depreciation, 57700; salaries and wages. $11,700, taxes, 54,700; utilities. $9700 1 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. 154 44 Ook Required: 1. Prepare the statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) re HUNC COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities Adjustments to Reconde Net Income to Net Cash Provided by Operating Activities