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: Current Year Pnion Year Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation Equipment Total Assets Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement (current year) Sales Revenue Cost of Goods Sold Other Expenses Net Income $ 44 880 19,880 22,800 102,200 (33,800) $155,880 $ 20,200. 880 28,000 76,000 30,800 $155,880 $ 14,000 21 000 28 oee 94,800 (26), 090) $131,000 $ 18,000 1,000 40,000 52,090 20,000 $131,000 $118,000 70,000 34,200 $ 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. 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. HUNTER COMPANY Statement of Cash Flows $ 13 800 For the Year Ended December 31 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation Expense Decrease in Accounts Receivable Decrease in Inventory Increase in Accounts Payable Decrease in Salaries and Wages Payable 0 13,800 Net Cash Provided by Operating Activities Cash Flows from Investing Activities Cash Payments to Purchase Equipment 0 Cash Flows from Financing Activities Cash Payments on Notes Payable (long-term) Cash Receipts from Issuing Stock Cash Payments for Dividends Depreciation Expense 0