QS 12-19 Indirect: Preparing statement of cash flows LO P1, P2, P3 HONTGOMERY I Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets $ 30,800 31,0ee 10,900 79,800o 8,900 63,000 119, 500 184,980 44, 20037,300 (19,900)(13,800) $143,80 $128,400 Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity s 21,200 22,900 g2340 500 4804108 21,600 182,40094,10 -19,8?? 10,900 $143,800 $128,400 MONTGOMERY INC Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses 38,500 (16,009) 22,500 6,100 4,700 Depreciation expense Other expenses Total operating expense Income before taxes Income tax expense Net income 10,880 11,780 2,800 $ 8,98e Additional Information