MONTGOMERY INCORPORATED Comparative Balance Sheets At December 31 Current Year Prior Year Assets Cash $ 34,500 $ 34,900 Accounts receivable, net 10,000 12,400 Inventory 89,600 71,700 Total current assets 134,100 119,000 Equipment 49,600 42,400 Accumulated depreciationEquipment (22,400) (15,600) Total assets $ 161,300 $ 145,800 Liabilities and Equity Accounts payable $ 23,800 $ 25,900 Salaries payable 400 500 Total current liabilities 24,200 26,400 Equity Common stock, no par value 117,100 108,500 Retained earnings 20,000 10,900 Total liabilities and equity $ 161,300 $ 145,800 MONTGOMERY INCORPORATED Income Statement For Current Year Ended December 31 Sales $ 39,600 Cost of goods sold (16,400) Gross profit 23,200 Salaries expense 4,900 Depreciation expense 6,800 Income before taxes 11,500 Income tax expense 2,400 Net income $ 9,100 Additional Information on Current-Year Transactions No dividends are declared or paid. Issued additional stock for $8,600 cash. 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