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: Balance Sheet at December 31 Cash Accounts Receivable. Inventory Equipment Accumulated Depreciation-Equipment Total Assets Current Year Prior Year $ 52,320 34,200 $ 22,000 37,000 37,200 119,800 44,000 110,000 (34,000) $ 179,000 (40,800) $202,720 $ 29,800 $ 26,000 720 1,000 Accounts Payable Salaries and Wages Payable Notes Payable (long-term) 44,000 56,000 Common Stock 92,000 68,000 Retained Earnings 36,200 28,000 Total Liabilities and Stockholders' Equity $202,720 $ 179,000 $108,000 65,000 30,200 $ 12,800 Income Statement (current year) Sales Revenue Cost of Goods Sold Other Expenses Net Income Additional Data: a. Bought equipment for cash, $9,800. b. Paid $12,000 on the long-term notes payable. c. Issued new shares of stock for $24,000 cash. d. Declared and paid a $4,600 cash dividend. e. Other expenses included depreciation, $6,800; salaries and wages, $10,800; taxes, $3,800; utilities, $8,800. f 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. 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.) 7 56 ints HUNTER COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: eBook Print References Changes in Current Assets and Current Liabilities Cash Flows from Investing Activities: Cash Flows from Financing Activities: