Question: Please help and show work if needed for fill in the blanks Hunter Company is developing its annual financial statements at December 31. The statements

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 Prior Year Balance Sheet at December 31 Cash $ 46,550 $ 15,580 Accounts Receivable 22,500 24,000 Inventory 25,500 31,800 Equipment 105,500 97,000 Accumulated Depreciation Equipment (35,000) 127,500) Total Assets $ 165,050 $ 140,000 Accounts Payable $ 22,000 $ 19,500 Salaries and Wages Payable 850 1,000 Notes Payable (long-term) 33,880 43,000 Common Stock 77,500 55,000 Retained Earnings 31,700 21,500 Total Liabilities and Stockholders' Equity $ 165,050 $ 140,000 Income Statement (current year) Sales Revenue $ 115,000 Cost of Goods Sold 68,500 Other Expenses 33,000 Net Income $ 13,500 Additional Data: a. Bought equipment for cash, $8,500 b. Paid $10,000 on the long-term notes 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. 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. $ 13,500 HUNTER COMPANY Statement of Cash Flows 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 Changes in Current Assets and Current Liabilities Increase in Accounts Receivable Increase in Inventory Decrease in Salaries and Wages Payable Increase in Accounts Payable ces 0 13,500 Cash Flows from Investing Activities: Cash Payments to Purchase Equipment 0 Cash Flows from Financing Activities: $ 0
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