HUNTER COMPANY 2020 2019 Balance Sheet at December 31 Cash $44,000 $18,000 Accounts Receivable 27,000 29,000 Merchandise Inventory 30,000 36,000 Property and Equipment 111,000 102,000 Less: Accumulated Depreciation (36,000) (30,000) $176,000 $155,000 Accounts Payable $25,000 $22,000 Wages Payable 800 1,000 Note Payable, Long-Term 38,000 48,000 Contributed Capital 80,000 60,000 Retained Earnings 32,200 24,000 $176,000 $155,000 Income Statement for 2020 Sales $100,000 Cost of Goods Sold 61,000 Other Expenses 27,000 Net Income $12,000 Additional Data: a. Cash paid for equipment. 9,000 b. Cash paid on long-term note payable. 10,000 c. Cash received from issuing new shares. 20,000 d. Cash divid preapre statement of cash flows and 2. Use the statement of cash flows to evaluate Hunters cash flows