Tasha Crews TC ab o s Documenti - Word Search Insert Draw Design Layout References Mailings Review View Help A A A E 21 AaBbCcDc AaBbCcDc AaBb C AaBbccc Add Uab x x ADA 19 - 1 Normal 1 No Spac... Heading 1 Heading 2 Title Find Replace Select Dictate Voice Styles Editing 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.) (Ctrl) Font Paragraph MUNTLOMERY INC Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $63,500 $ 63,900 Accounts receivable. net 18,100 22. 100 Inventory 162,300 127, 700 Total current assets 243,900 213,700 Equipment 89,900 75, 600 d . depreciation Equipment (40,500) 128,000) Total assets $293,300 $261,300 Liabilities and Equity Accounts payable $43, 100 $ 46,500 Salaries payable 800 2.000 Total current liabilities 43,900 47,500 Equity Common stock, no par value 210,000 192,000 Retained earnings 39.400 21,800 Total liabilities and equity $293,200 $261,300 Sales MONTGOMERY INC. Income Statement For Current Year Ended December 31 $ 77,200 Cont of goods sold 132, 100) Greas profit 45, 100 Operating expenses Depreciation expense $12,500 Other expenses 9,400 Total operating expense 21,900 Income before taxes 23,200 Income tax expense 5,600 Net Income 5 17,600 Additional Information on Carrent-Year Transactions 2 No dividends art declared or paid. h. Issued additional stock for $18,000 cash Purchased equipment for cash no equipement was sold Focus B - - 2 190 words X Type here to search