QS 12-19 Indirect: Preparing statement of cash flows LO P1, P2, P3 Comparative Balance Sheets December 31, 2018 and 2017 points Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets 04:14:24 58,200 58, 100 22,300 164,100 128,800 209,200 76,200 (28,100 18,300 Skipped 240,600 90,900 (41,000 $290,500 $257,300 Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity eBook 43,600 46, 600 1,100 44.5004,700 900 Print 202,500 185,700 43,500 23,900 $290,500 $257,300 Re erences MONTGOMERY INC Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses $ 83,500 (34,600 48,900 Depreciation expense $12,900 10,300 Other expenses Total operating expense Income before taxes Income tax expense Net income 23,200 25,700 19,600 Additlonal Information a. No dlvidends are declared or paid in 2018 b. Issued additional stock for $16,800 cash in 2018. c. Purchased equipment for cash in 2018; no equipment was sold in 2018 points 041:0 1. Use the above financlal statements and additional information to prepare a statement of cash flows for the year ended December 31 2018, using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Skipped MONTGOMERY, INC. Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities eBook Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Print References Cash flows from investing activities Cash flows from financing activities Cash balance at beginning of year Cash balance at end of year