MONTGOMERY INC. Comparative Balance Sheets December 31, 2018 and 2017 $ 55,600 12,500 112,100 180,200 62,100 (28,100) $ 214,200 $ 55,900 15,400 89,000 160,300 52,700 (19,400) $ 193,600 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 $ 29,900 500 30, 400 $ 32,200 700 32,900 145,500 15,200 MONTGOMERY INC. Income Statement Tor Year Ended December 31, Sales Coat of goods sold Gross profit Operating expenses Depreciation expense $ 8,700 Other expenses 6,700 Total operating expense Income before taxes Income tax expense Net Income Additional Information a. No dividends are declared or paid in 2018. b. Issued additional stock for $10,800 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 minus sign.) Net income $ 12,300 Additional Information a. No dividends are declared or paid in 2018, b. Issued additional stock for $10,800 cash in 2018. c. Purchased equipment for cash in 2018; no equipment was sold in 2018. 1. Use the above financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 2018, using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) MONTGOMERY, INC. Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations Changes in current operating assets and liabilities _ Cash flows from investing activities Cash flows from financing activities ODOO Cash balance at beginning of year Cash balance at end of year The following information is for Tide Corporation: ($ thousands) Net sales Cost of goods sold 2017 $ 678,030 332,235 2016 $233,000 68,968 Determine the 2016 and 2017 trend percents for net sales using 2016 as the base year. Trend Percent for Net Sales: 7 Choose Denominator: Choose Numerator: 2017: 2016: Trend Percent 0 % 0 %