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Monty Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $23,000) Net income $207,000

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Monty Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $23,000) Net income $207,000 128,000 79,000 50,000 $29,000 The following accounts increased during 2017: Accounts Receivable $10,000, Inventory $10,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Monty's 2017 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Monty Corporation Statement of Cash Flows-Indirect Method (Partial) $ Adjustments to reconcile net income to $

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