Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2014. Also shown is a partially completed comparative balance sheet as of December 31, 2014 and 2013:

HARTFORD, INC Statement of Cash Flows For the year Ended December 31, 2014
Cash Flows from Operating Activities:
Net income	$	13,500
Add (deduct) items not affecting cash:
Depreciation expense		67,500
Decrease in accounts receivable		34,500
Increase in Inventory		(10,500	)
Decrease in accounts payable		(9,000	)
Proceeds from short-term debt		7,500
Increase in notes payable		18,000
Net cash provided by operating activities	$	121,500
Cash Flows from Investing Activities:
Purchase of equipment	$	(75,000	)
Purchase of buildings		(72,000	)
Net cash used by investing activities	$	(147,000	)
Cash Flows from Financing Activities:
Cash used for retirement of long-term debt	$	(37,500	)
Proceeds from issuance of common stock		15,000
Payment of cash dividends on common stock		(4,500	)
Net cash used by financing activities	$	(27,000	)
Net decrease in cash for the year	$	(52,500	)

Required:
a.	Complete the December 31, 2014 and 2013, balance sheets.

a. Complete the December 31, 2014 and 2013, balance sheets HARTFORD, INC. Comparative Balance Sheets At December 31, 2014 and 2013 2014 2013 Assets: Current assets Cash Accounts receivable Inventory $ 132,000 109,500 84,000 Total current assets Land 60,000 Buildings and equipment 390,000 Less: Accumulated depreciation (184,500) Total land, buildings and equipment Total assets Liabilities: Current liabilities $43,500 Accounts payable Short-term debt Notes payable Total current liabilities 48,000 54,000 $ 127,500 Long-term debt Stockholders' Equity Common stock Retained earnings $ 60,000 Total stockholders' equity Total liabilities and stockholders' equity