Homework Seve Check 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. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Prior Year $ 44, 110 26.10 29,10 109.900 (36. 5172. 510 Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation Equipment Total Assets Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement (current year) Sales Revenue Cost of Goods Sold Other Expenses Net Income $ 17,500 28,eee 35.ee 101, eee (29.500) $152,000 $ 21. See 1. eee 47.ee 59.00P 23.500 $152. ee 35 79.500 32.900 5172.610 $111.00 66.50 31.ee Additional Data: a. Bought equipment for cash. $8.900. b Paid $12,000 on the long-term note payable c Issued new shares of stock for $20,500 cash d. Declared and paid a $3.700 cash dividend, Other expenses included depreciation, 57100, salaries and wages. 511,100; taxes, 54,100 utilities. $9,100 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 a prov a t