Exam #4: Chapters 11, 12 and 13 4 Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity 53,800 53,900 16,400 120,10094,866 187,300 165,100 56,100 (20,700 $223,700 $200,500 13,400 2 04:35:02 66,500 (30,100) ) eBook 32,000 $ 34,489 600 800 32,680 35,200 159,400 147,90e 31,70017,400 $223,700 $200,500 MONTGOMERY INC Income Statement For Year Ended December 31, 2018 60,900 (25,300) Sales Cost of goods sold Gross profit Operating expenses 9,400 7,400 Depreciation expense Other expenses Total operating expense Income before taxes Income tax expense Net income 16,800 18,800 4, 500 14,300 Mc rev 4 4 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 minus sign) MONT ERY, INC. For Year Ended December 31, 2018 Net income to reconcile net income to net cash provided by operations: 20,700 Cash flows from financing activities s 20,700 Cash Cash