QS 12-19 indirect: Preparation of statement of cash flows LO P1, P2, P3 MONTGOMERY INC Comparative Balance Sheets December 31, 2016 and 2015 2016 2015 Assets 31,000 31,200 Cash Accounts receivable, net 10,300 12,600 92,400 72,800 Inventory Total current assets 130,550 112,850 Equipment 51,200 43,100 Accum. depreciation Equipment (23,100) (16,000) Total assets 161,800 143,700 Liabilities and Equity 24,600 26,600 Accounts payable 500 600 Salaries payable 24,400 26,000 Total current liabilities Equity 112,800 103,400 Common stock, no par value Retained earnings 23,900 13,100 Total liabilities and equity 161,800 143,700