MONTGOMERY INC. Comparative Balance Sheets December 31, 2016 and 2015
		2016				2015
Assets
Cash	$	58,200			$	58,100
Accounts receivable, net		18,300				22,300
Inventory		164,100				128,800
Total current assets		130,550				112,850
Equipment		90,900				76,200
Accum. depreciationEquipment		(41,000	)			(28,100	)
Total assets	$	290,500			$	257,300
Liabilities and Equity
Accounts payable	$	43,600			$	46,600
Salaries payable		900				1,100
Total current liabilities		24,400				26,000
Equity
Common stock, no par value		202,500				185,700
Retained earnings		43,500				23,900
Total liabilities and equity	$	290,500			$	257,300

MONTGOMERY INC. Income Statement For Year Ended December 31, 2016
Sales			$	83,500
Cost of goods sold				(34,600	)
Gross profit				48,900
Operating expenses
Depreciation expense	$	12,900
Other expenses		10,300
Total operating expense				23,200
Income before taxes				25,700
Income tax expense				6,100
Net income			$	19,600

Additional Information

a.	No dividends are declared or paid in 2016.
b.	Issued additional stock for $16,800 cash in 2016.
c.	Purchased equipment for cash in 2016; no equipment was sold in 2016.

(1)	Use the above financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 2016, using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)