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MONTCORLRY INCORPORATED Comparative Balance Sheets At December 31 Current Year Prior Year Assets Cash Accounts...

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MONTCORLRY INCORPORATED Comparative Balance Sheets At December 31 Current Year Prior Year Assets Cash Accounts receivable, net Inventory. Total current assets Equipment Accumulated depreciation-Equipnent Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities \begin{tabular}{rr} 533,200 & $33,400 \\ 12,100 & 14,760 \\ 108,500 & 84,900 \\ \hline 153,800 & 133,000 \\ 69,100 & 50,200 \\ (27,109) & (18,500) \\ \hline 5106,600 & $164,700 \\ \hline$28,800 & $30,700 \\ 600 & 700 \\ \hline 29,400 & 31,400 \end{tabular} Equity Common stock, no par value Retalned earnings Total liabilities and equity \begin{tabular}{rr} 130,000 & 118,100 \\ 27,400 & 15,200 \\ \hline$186,800 & $164,700 \\ \hline \end{tabular} HONTGOMEAY TNCORPORATED Incone statement For Current Year Ended December 31 Cost of goods sold Gross proflt Salaries expense Depreciation expense $53,500(22,200)31,3006,6008,60016,169 Additional Information on Current-Year Transactions a. No dividends are declared or paid b. Issued additional stock for $11,900 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

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