2 Homework 4 Sales Income Statement For Current Year Ended December 31 $ 40,300 Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Total operating expense Income before taxes Income tax expense 02:49:37 Net income Skipped eflook (16,700) 23,600 $ 7,300 5,000 12,300 11,300 2,400 $ 8,900 Additional Information on Current-Year Transactions a. No dividends are declared or paid. Additional Information on Current-Year Transactions ok a. No dividends are declared or paid. b. Issued additional stock for $10,300 cash. t 0 nces c. Purchased equipment for cash; no equipment was sold. 1. Use the above information to prepare a statement of cash flows for the current year using the indirect method. (Amounts to deducted should be indicated by a minus sign.) MONTGOMERY, INC. Statement of Cash Flows (Indirect Method) rences MONTGOMERY, INC. Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current operating assets and liabilities $ 0 Cash flows from investing activities Cash flows from financing activities Cash balance at beginning of year Cash balance at end of year $ FA SS 0 0 $ 0