Additional Information a. No dividends are declared or paid in 2018. b. Issued additional stock for \\( \\$ 16,500 \\) cash in 2018. c. Purchased equipment for cash in 2018; no equipment was sold in 2018. 1. Use the above financial statements and additional information to prepare a statement of 2018 , using the indirect method. (Amounts to be deducted should be indicated by a minus MONTGOMERY, INC. Statement of Cash Flows (indirect Mothod) For Year Ended Decomber 31, 2018 Cash fows from operating activities Adjustments to reconcile net income to net cash provided by operations: MONTGOMERY INC. Comparative Balance Sheets December 31, 2018 and 2017 Assets Cash \\( \\begin{array}{lll}\\text { Accounts receivable, net } & 18,700 & 64,000 \\\\ 23,100\\end{array} \\) Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity \\( 2018 \\quad 2017 \\) Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity \\( \\frac{167,600}{250,300}-\\frac{133,500}{221,200} \\) \\( 92,800 \\quad 79,000 \\) \\( \\frac{(42,000)}{\\$ 301,100} \\frac{(29,100)}{\\$ 271,100} \\) \\( \\$ 44,700 \\$ 48,400 \\) \\( \\frac{800}{45,500}-\\frac{1,000}{49,400} \\) MONTCOMERY INC. Incorse Statement For Year Ended December 31, 2018 Sales \\( 216,400 \\quad 199,900 \\) 39,200 \\( \\$ 301,100 \\) 21,800 \\( \\$ 271,100 \\) Cost of goods sold Gross profit \\( \\$ 78,000 \\) Operating expenses \\( \\frac{(32,300)}{45,700} \\) Depreciation expense Other expenses Total operating expense Income before taxes \\( \\$ 12,900 \\) 9,700 \\( \\frac{22,600}{23,100} \\) c \\( 7 \\mathrm{nn} \\)