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Bramble Company reported net income of $193,800 for 2022. Bramble also reported depreciation expense of $40,700 and a loss of $5,800 on the disposal of
Bramble Company reported net income of $193,800 for 2022. Bramble also reported depreciation expense of $40,700 and a loss of $5,800 on the disposal of plant assets. The comparative balance sheet shows an increase in accounts receivable of $15,400 for the year, a $17,400 increase in accounts payable, and a $4,500 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) BRAMBLE COMPANY Statement of Cash Flows (Partial) - Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities 69 193,800 Depreciation Expense Loss on Disposal of Plant Assets Increase in Accounts Receivable Increase in Accounts Payable Increase in Prepaid Expenses Net Cash Provided by Operating Activities 40,700 5,800 15,400 17,400 4,500 72,200 $ 266,000
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