MONTGOMERY INCORPORATED Comparative Balance sheets At December 31 Current Year Prior Year Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accumulated 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 \begin{tabular}{rr} $47,100 & $50,060 \\ 1,600 & 1,200 \\ \hline 48,160 & 51,200 \end{tabular} MONTGOMERY INCORPORATED Income Statement For Current Year Ended December 31 Sales Gost of goods \begin{tabular}{rr} 216,100 & 196,100 \\ 47,200 & 26,100 \\ \hline$311,400 & $273,400 \\ \hline \end{tabular} Salaries expense Depreciation expense Income before taxes Income tax expense Net income $90,900(37,800)53,10011,10014,20027,8006,700$21,100 Additional Information on Current-Year Transactions 0. No dividends are declared or paid. b. Issued additional stock for $20,000 cash. c. Purchased equipment for cash; no equipment was sold. 1. Use the above information to prepare a statement of cash flows for the current year using the indirect method (Amounts to be deducted should be indicated by a minus sign.)