Prior Year 2:09 MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 56,900 Accounts receivable, net 14,100 Inventory 126,400 Total current assets 197,400 Equipment 78,000 Accum. depreciation-Equipment (31,700) Total assets $235,700 Liabilities and Equity Accounts payable $ 33,700 Salaries payable 6ee Total current liabilities 34,300 Equity Common stock, no par value 170,000 Retained earnings 31.400 Total abilities and equity $235,780 $ 57,100 17,300 100, eee 174,489 59,299 (21,880) $211,800 $ 36,200 sea 37,000 int 157,400 17,00 $211,800 rences MONTGOMERY INC Income Statement For current Year Ended December 31 Sales 5.61,500 Cost of goods sold (25,500) Gross-profit 36,000 Operating expenses Depreciation expense $9.900 Other expenses 7.500 Total operating expense 1,500 Incore before taxes 18, SUD Income tax expense 4.500 Additional Information on Current-Year Transactions a. No dividends are declared or paid b. issued additional stock for $12,600 cash c. Purchased equipment for eash, no equipment was sold 22152 1. Use the above information to prepare a statement of cash flows for the current year using the midirect method. (Amounts to be deducted should be indicated by a minus sign.) ook MONTGOMERY, INC statement of Cash Flow (Indirect Method) For Current Year Ended December 11 Cash fows from operating activities Adjustments to reconcile net income one cash provided by operations Income statements not affecting cash Changes in current operating sites and be Cantorointing Cash flows from investing activities Cash flows from financing activities Les Cash balance at beginning of year Cash balance at end of year