A comparative balance sheet for Bramble Corporation is presented as follows. December 31 Assets 2020 2019 Cash $ 72,860 $ 22,000 Accounts receivable 84,840 68,980 Inventory 182,840 191,980 Land 73,840 112,980 Equipment 262,840 202,980 Accumulated Depreciation Equipment (71,840) (44,980) Total $605,380 $553,940 Liabilities and Stockholders' Equity Accounts payable $36,840 $ 49,980 Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164,000 Retained earnings 204,540 139,960 Total $605,380 $553,940 Additional information: 1. Net income for 2020 was $130,680. No gains or losses were recorded in 2020. 2. Cash dividends of $66,100 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. Prepare a statement of cash flows for 2020 for Bramble Corporation. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) BRAMBLE CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 4 Cash Flows from Operating Activities Net Income $ 130680 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation expense $ 26860 Increase in Accounts Receivable - 15860 Decrease in Inventory 9140 Decrease in Accounts Payable -13140 134680 Net Cash Used by Operating Activities A 265360 Cash Flows from Investing Activities Sale of Land Purchase of Equipment + Net Cash Used by Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends 4 Question 6 of 7 - 75 $ Issued common stock to retire $ of bonds outstanding e Textbook and Media Save for Later Last saved 1 day ago. Attempts: 0 of 5 used Submit Answer (b) Determine Bramble Corporation's current cash debt coverage, cash debt coverage, and free cash flow. (Round current cash debt coverage and cash debt coverage to 2 decimal places, e.g. 0.67.) Current cash debt coverage :1 Cash debt coverage :1 Free cash flow $ Comment on its liquidity and financial flexibility. Bramble has liquidity. Its financial flexibility is e Textbook and Media Save for Later Attempts: 0 of 5 used Submit