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: 2015 2014 Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment s 44,880 $ 14,000 21,000 28,000 94,000 Accumulated Depreciation-Equipment (33,800) (26,000) 19,800 22,800 102,200 $155,880 $131,000 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings 20,200 18,000 1,000 40,000 52,000 20,000 880 28,000 76,000 30,800 $155,880 $131,000 Income Statement for 2015 Sales Revenue Cost of Goods Sold Other Expenses $118,000 70,000 34,200 Net Income 13,800 Additional Data: a. Bought equipment for cash, $8,200. b. Paid $12,000 on the long-term note payable. c. Issued new shares of stock for $24,000 cash. d. Declared and paid a $3,000 cash dividend. e. Other expenses included depreciation, $7,800; salaries and wages, $11,800; taxes, $4,800; utilities, $9,800 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