December 31, 2018 and 2017 2018 Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets s 54,100 54,200 16,400 120,100 94,800 187,600 165,400 66,500 56,100 13,400 (30 100) (20,700) $224,000 $200,800 Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity 32,000 34,400 800 600 32,600 35,200 159,800 148,200 31,60017,400 $224,000 $200,800 MONTGOMERY INC. Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses $ 60,900 (25,300) 35,600 Depreciation expense s 9,400 Other expenses Total operating expense Income before taxes Income tax expense Net income 16,900 18, 700 4 500 $ 14,200 Additional Information a. No dividends are declared or paid in 2018 b. Issued additional stock for $11,600 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 cash flows for the year ended December 31, 2018, using the Indirect method. (Amounts to be deducted should be Indicated by a mlnus sign.) ant of Cash Flows (Indirect Mothod) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations Changes in current operating assets and iabilities Cash flows from investing activities Cash flows from financing activities Cash balance at beginning of year Cash balance at end of year