Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $57.800 accounts receivable. net 14.300 Inventory 128, 200 Total current sets 200.300 Equipment 71.000 Accun. depreciation - Equipment (32.100) Total sets $239, 200 Liabilities and Equity Acounts payable $ 34,200 Sulares payable 000 Total current liabilities 34.800 Equity Connon tocko par value 172,90 Ratained as 31.500 Total liabilities and equity $239.200 $57.900 17.600 101.700 177,200 50.200 (22.200 $215.200 $36.900 BOD 37.700 160.100 17.400 $215, 200 PONTGOMERY INC. Income Statement For Current Year Ended December 31 1.01.800 Cost of good old 25.600) Gon profit 36.200 Depreciation expense 59.900 7.700 Total pertint expense Throne before te In tax expense 17.000 10.600 500 $ 16.100 Additional Information on Current-Year Transactions .. No dividends are declared or paid b. Issued additional stock for $12.800 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 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.) MONTGOMERY, INC. Statement of Cash Flows (indirect Method) For Current Year Ended December 31 Cash flows from operating activities 8:41 Adjustments to reconcile net income to net cash provided by operations Income statement items not affecting cash Changes in current operating assets and liabilities D Cash flows from investing activities 0 Cash flows from financing activities $ 0 0 $ Cash balance at beginning of year Cash balance and of year $ 0