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 $ 45,660 $ 15,000
Accounts Receivable 21,600 23,000
Inventory 24,600 30,000
Equipment 104,400 96,000
Accumulated Depreciation—Equipment (34,600) (27,000)
Total Assets $ 161,660 $ 137,000
Accounts Payable $ 21,400 $ 19,000
Salaries and Wages Payable 860 1,000
Notes Payable (long-term) 31,000 42,000
Common Stock 77,000 54,000
Retained Earnings 31,400 21,000
Total Liabilities and Stockholders’ Equity $ 161,660 $ 137,000
Income Statement (current year)
Sales Revenue $ 116,000
Cost of Goods Sold 69,000
Other Expenses 33,400
Net Income $ 13,600

Additional Data:
Bought equipment for cash, $8,400.
Paid $11,000 on the long-term notes payable.
Issued new shares of stock for $23,000 cash.
Declared and paid a $3,200 cash dividend.
Other expenses included depreciation, $7,600; salaries and wages, $11,600; taxes, $4,600; utilities, $9,600.
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.

Required:
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.)