IE Exercise 12-13 (Static): Indirect: Preparing statement of cash flows LO P2, P3 MONTGOMERY INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accumulated 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 Current Year Prior Year Additional Information on Current-Year Transactions a. No dividends are declared or paid. b. Issued additional stock for $10,000 cash. c. Purchased equipment for cash; no equipment was sold. Required: Use the above information to prepare a statement of cash flows for the current year using the indirect method. Navigation: MONTGOMERY, INCORPORATED 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 used in operating activities: Income statement items not affecting cash Changes in current operating assets and liabilities Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignment. Q Question Data Cash Flow Items a Graded Worksheet alculation Mode: Automatic Workbook Statistics