Balance sheets for Brierwold Corporation follow: Instructions Brierwold Corporation Balance Sheet Additional transactions were as follows: A. Purchased equipment costing $50,000. B. Sold equipment costing $60,000, with a book value of $25,000, for $40,000. C. Retired preferred stock at a cost of $110,000. (The premium is debited to Retained Earnings.) D. Issued 10,000 shares of common stock (par value, $4 ) for $10 per share. E. Reported a loss of $15,000 for the year. F. Purchased land for $50,000. Required: Prepare a statement of cash flows using the indirect method. Statement of Cash Flows, Indirect Method 15 Cash flows from financing activities: 16 17 18 19 20 Balance sheets for Brierwold Corporation follow: Instructions Brierwold Corporation Balance Sheet Additional transactions were as follows: A. Purchased equipment costing $50,000. B. Sold equipment costing $60,000, with a book value of $25,000, for $40,000. C. Retired preferred stock at a cost of $110,000. (The premium is debited to Retained Earnings.) D. Issued 10,000 shares of common stock (par value, $4 ) for $10 per share. E. Reported a loss of $15,000 for the year. F. Purchased land for $50,000. Required: Prepare a statement of cash flows using the indirect method. Statement of Cash Flows, Indirect Method 15 Cash flows from financing activities: 16 17 18 19 20