MONTGOMERY INC. Comparative Balance Sheets December 31, 2018 and 2017 20182017 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 \( \stackrel{\frac{(30,100)}{\$ 223,700} \frac{(20,700)}{\$ 200,500}}{\hline} \) MONTGOMERY INC. Income Statement For Year Ended December 31, 2018 Sales $60,900 Cost of goods sold Gross profit 35,600(25,300) Operating expenses Depreciation expense Other expenses $9,400 Total operating expense Income before taxes Income tax expense Net income 16,80018,8004,500$14,300 a. No dividends are declared or pald in 2018 b. Issued additional stock for $11.500 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 o minus sign.)