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 46,550 15,500 Cash 22,500 24,000 Accounts Receivable 25,500 31,000 Inventory 97,000 105,500 Equipment Accumulated Depreciation Equipment (35,000) (27,500) $165,050 $140,000 22,000 19,500 Accounts Payable Salaries and Wages Payable 850 1,000 Note Payable (long-term) 33,000 43,000 55,000 Common Stock 77,500 31,700 21,500 Retained Earnings $165,050 $140,000 Income statement for 2015 $115,000 Sales Revenue Cost of Goods Sold 68,500 Other Expenses 33,000 13,500 Net Income Additional Data: a. Bought equipment for cash, $8,500 b. Paid $10,000 on the long-term note payable. c. Issued new shares of stock for $22,500 cash. d. Declared and paid a $3,300 cash dividend e. Other expenses included depreciation, $7,500; salaries and wages, $11,500; taxes, $4,500; utilities, $9,500 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