CP12-3 Preparing a Statement of Cash Flows (indirect Method) [LO 12-2, LO 12-3, LO 12-4, LO 12-5] 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 47,870 19,500 32,000 Accounts Receivable 29,700 32,700 39,000 Inventory 105,000 Equipment 114,300 Accumulated Depreciation-Equipment (37,800) (31,500) $186,770 $164,000 26,800 23,500 Accounts Payable 1,000 Salaries and Wages Payable 770 Note Payable (long-term) 41,000 51.000 84,500 63,000 33,700 25,500 Common Stock Retained Earnings $186,770 $164,000 Income Statement for 2015 Sales Revenue $103,000 Cost of Goods Sold 62,500 Other Expenses 28,200 Net Income 12,300