roblem PA12-3 Saved Help Save & Exit Submit Check my work 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 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 $ 44,990 18,900 21,900 101,100 (33,400 $ 153,490 $ 19,600 890 27,000 75,500 30,500 $153,490 $ 13,500 20,000 27,000 93,000 (25,500) $ 128,000 $ 17,500 1,000 39,000 51,000 19,500 $128,000 $119,000 70,500 34,600 $ 13,900 Additional Data: a. Bought equipment for cash, $8,100. b. Paid $12,000 on the long-term note payable. c. Issued new shares of stock for $24,500 cash. d. Declared and paid a $2,900 cash dividend. e. Other expenses included depreciation, $7,900; salaries and wages, $11,900; taxes, $4,900; utilities, $9,900. f. Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or Prey 1 of 1 HH Next Check my wo 1. Prepare the statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) $ 13,900 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 Decrease in Accounts Receivable Increase in Inventory Increase in Accounts Payable + 0 13,900 Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Cash Flows from Financing Activities: Prey 1 of 1 TE Next