MONTGOMERY INC. Comparative Balance Sheets December 31, 2018 and 2017
		2018				2017
Assets
Cash	$	60,100			$	60,000
Accounts receivable, net		19,800				23,900
Inventory		177,500				138,000
Total current assets		257,400				221,900
Equipment		98,300				81,600
Accum. depreciationEquipment		(44,300	)			(30,100	)
Total assets	$	311,400			$	273,400
Liabilities and Equity
Accounts payable	$	47,100			$	50,000
Salaries payable		1,000				1,200
Total current liabilities		48,100				51,200
Equity
Common stock, no par value		216,100				196,100
Retained earnings		47,200				26,100
Total liabilities and equity	$	311,400			$	273,400

MONTGOMERY INC. Income Statement For Year Ended December 31, 2018
Sales				$	90,900
Cost of goods sold					(37,800	)
Gross profit					53,100
Operating expenses
Depreciation expense	$	14,200
Other expenses		11,100
Total operating expense					25,300
Income before taxes					27,800
Income tax expense					6,700
Net income				$	21,100

Additional Information

1. No dividends are declared or paid in 2018.
2. Issued additional stock for $20,000 cash in 2018.
3. 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.