Condensed financial data of Bramble Corp. follow. Bramble Corp. Comparative Balance Sheets December 31 Assets 2020 Cash $114,700 Accounts receivable 92,400 Inventory 111,400 Prepaid expenses 29,400 Investments 140,900 Equipment 265,600 Accumulated depreciation-equipment (46,300) Total $708,100 2019 $48,900 33,100 101,200 25,500 114,000 241,300 (52,600) $511,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,500 16,500 114,000 219,000 247.100 $708,100 $67,200 17,200 149.000 175,500 102,500 $511,400 $392,300 Bramble Corp. Income Statement For the Year Ended December 31, 2020 Sales revenue Less: Cost of goods sold $134,800 Operating expenses, excluding depreciation 11,600 Depreciation expense 28,700 Income tax expense 27,500 Interest expense 4,000 Loss on disposal of plant assets 7,500 Net income 214,100 $178,200 $392,300 Bramble Corp. Income Statement For the Year Ended December 31, 2020 Sales revenue Less: Cost of goods sold $134,800 Operating expenses, excluding depreciation 11,600 Depreciation expense 28,700 Income tax expense 27,500 Interest expense 4,000 Loss on disposal of plant assets 7,500 Net income 214,100 $178,200 Additional information: 1. New equipment costing $79,800 was purchased for cash during the year. 2. Old equipment having an original cost of $55,500 was sold for $13,000 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $33,600 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).) Bramble Corp. Statement of Cash Flows Adjustments to reconcile net income to Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) Bramble Corp. Statement of Cash Flows Adjustments to reconcile net income to

Statement of Cash Flows (Indirect Method) Cash flow from Operating Activities: Net Income 178200 Adjustments to reconcile net income: Depreciation Expense Loss on disposal of plant assets Increase in Accounts Receivable Increase in Inventory Increase in Prepaid Expenses Increase in Accounts payable Decrease in Accrued expenses payable 28700 7500 -59300 - 10200 -3900 44300 -700 6400 Net Cash provided by Operating activities 184600 Cash flow from Investing Activities: Purchase of Equipment Sale of Old Equipment Purchase of Investments -79800 13000 -26900 Net Cash used in Investing Activities -93700 Cash flow from Financing Activities: Bonds matured and paid off Cash dividends paid Proceeds from Issuance of Common Stock -35000 -33600 43500 Net Cash used in Financing Activities -25100 Net Increase in Cash Cash, Beginning Balance Cash, Ending Balance 65800 48900 114700 .

Condensed financial data of Bramble Corp. follow. Bra…

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Statement of Cash Flows (Indirect Method) Cash flow from Operating Activities: Net Income 178200 Adjustments to reconcile net

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Condensed financial data of Bramble Corp. follow. Bramble Corp. Comparative Balance Sheets December 31 Assets 2020...

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