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 Current Year Prior Year Cash $ 51,740 Accounts Receivable $ 21, 32,488 35, Inventory 35,480 42, see Equipment 117,680 188,888 Accumulated Depreciation-Equipment (39,668) 133, eee) Total Assets $ 197,548 5 173, Accounts Payable $ 28,680 $ 25,00 Salaries and Wages Payable 740 1.ee Notes Payable (long-term) 44,880 54.ee Common Stock 89,00 66, ese Retained Earnings 35,280 27. eee Total Liabilities and Stockholders' Equity $ 197,548 $ 173,00 Income Statement (current year) Sales Revenue $ 106,800 64.ee Cost of Goods Sold 29.4ee Other Expenses $ 12,680 Net Income Additional Data: a. Bought equipment for cash, $9,500 b. Paid $10,000 on the long-term notes payable. c Issued new shares of stock for $23,000 cash. d. Declared and paid a $4,400 cash dividend. e. Other expenses included depreciation, $6,600, salaries and wages, $10,600, taxes, $3,600, utilities, $8,600 Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or No 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.) 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: Changes in Current Assets and Current Liabilities Cash Flows from Investing Activities: Cash Flows from Financing Activities Cash Flows from Investing Activities: Cash Flows from Financing Activities: + +