MONTGOMERY INC Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 10 points Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets $ 30,300 30,800 10,900 63,000 104,700 37,300 8,900 79,800 119,000 44,200 (20,000) eBook (13,800) $143,200 128,200 Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity Print $ 21,300 22,900 500 400 21,700 23,400 References 93,900 10,900 $143,200 $128,200 101,800 19,700 MONTGOMERY INC. Income Statement For Year Ended December 31, 2018 $ 38,500 Sales Cost of goods sold Gross profit Operating expenses (16,000) 22,500 $ 6,200 4,700 Depreciation expense Other expenses Total operating expense Income before taxes Income tax expense Net income 10,900 11,600 2,800 $ 8,800 Additional Information a. No dividends are declared or paid in 2018 b. Issued additional stock for $7,900 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.)