Ch 12 Ex 12-12 30 Saved 1 Exercise 12-12 Indirect: Preparing statement of cash flows LO P2, P3 HONTGOMERY INC Comparative Balance Shorts December 31 Current Year Prior Year Assets Cash Accounts receivable, met Inventory $ 56,900 14,100 126,400 $ 57,100 17,300 100,000 Ok Total current assets Equipment 197,400 174,400 70,000 59,200 Accum. depreciation-Equipment (33,700) (21,800) Total assets $235,700 $211,000 Ave Liabilities and Equity Accounts payable Salaries payable $33,700 $36,200 600 800 Total current liabilities Pink 34,300 37,000 Equity Common stock, no par value Retained earnings 170,000 157.400 31,400 17,400 Total liabilities and equity $235,700 $211,000 MONTGOMERY INC. Income Statement 2 W S Current Ye X December Cost of gods sild Operating pens Depreciatio L F a 361,500 (25,500) 36,000 17,500 5.14,000 Pr 11 Next > 0 0