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Hunter Company is developing its annual financial statements at December 31, 2015. The statements are complete except for the statement of cash flows. The completed
Hunter Company is developing its annual financial statements at December 31, 2015. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: 2014 2015 Balance Sheet at December 31 Cash 44,110 17,500 28,000 Accounts Receivable 26,100 Inventory 29,100 35,000 Equipment 109,900 101,000 Accumulated Depreciation-Equipment (36,600) 29,500 $172,610 $152,000 24,400 21,500 Accounts Payable Salaries and Wages Payable 810 1,000 47,000 Note Payable (long-term) 35,000 Common Stock 59,000 79,500 Retained Earnings 32,900 23,500 $172,610 $152,000 Income Statement for 2015 Sales Revenue 111,000 Cost of Goods Sold 66,500 Other Expenses 31,400 13,100 Net Income Additional Data a. Bought equipment for cash, $8,900. b. Paid $12,000 on the long-term note payable
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