Bramble House Inc. had the following condensed statement of financial position at December 31, 2019 BRAMBLE HOUSE INC. Statement of Financial Position December 31, 2019 Cash $10,700 Current liabilities $15,200 Current assets (non-cash) 34,600 Long-term notes payable 30.700 Bond investment at amortized cost 40.150 Bonds payable 32,700 Plant assets (net) 58,200 Common shares 80.150 Land 39.200 Retained earnings 24.1001 $182.850 $182.850 Bramble House Inc. follows IFRS and chooses to classify dividends paid as financing activities and interest paid as operating activities on the statement of cash flows During 2020, the following occurred: 1. Bramble House Inc. sold part of its investment portfolio in bonds for $16.600, resulting in a gain of $210. 2 Dividends totalling $18.200 were paid to shareholders. Dividends paid are treated as financing activities. 3 A parcel of land, to be used as a parking lot, was purchased for $5,300. A Common shares were issued for cash totalling $17.700 S Bonds payable of $8.200 were retired at par 6. 7. Equipment was purchased through the issuance of $32.000 of bonds Net income for 2020 was $52.000 after allowing for depreciation on Bramble House Inc's plant assets of $13.950. The amount of interest paid during 2020 was $4.230 and the amount of income taxes paid was $20.300 8. Both current assets (other than cash) and current liabilities remained at the same amount Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a signes -15,000 or in parenthesis (15.000)) BRAMBLE HOUSE INC. Statement of Cash Flows (Indirect Method) Adjustments to reconcile net income to net cash provided by operating activities: Supplemental disclosures of cash flow information eTextbook and Media Prepare a condensed statement of financial position at December 31, 2020, for Bramble House Inc. (List Assets in order of liquidity) BRAMBLE HOUSE INC. Statement of Financial Position Assets Liabilities and Equity 5 Be House Inc. had the following condensed statement of financial position at December 31, 2019 BRAMBLE HOUSE INC. Statement of Financial Position December 31, 2019 Cash $10,700 Current liabilities $15,200 Current assets (non-cash) 34,600 Long-term notes payable 30.700 Bond investment at amortized cost 40.150 Bonds payable 32,700 Plant assets (net) 58.200 Common shares 80.150 Land 39.200 $182,850 Retained earnings 24.100 $182.850 Bramble House Inc. follows IFRS and chooses to classify dividends paid as financing activities and interest paid as operating activities on the statement of cash flows During 2020, the following occurred 1. Bramble House Inc. sold part of its investment portfolio in bonds for $16,600, resulting in a gain of $210 2 Dividends totalling $18.200 were paid to shareholders. Dividends paid are treated as financing activities 3. A parcel of land, to be used as a parking lot, was purchased for $5,300 4. Common shares were issued for cash totalling $17.700 5. Bonds payable of $8.200 were retired at par 6. Equipment was purchased through the issuance of $32.000 of bonds 7. Net income for 2020 was $52.000 after allowing for depreciation on Bramble House Inc's plant assets of $13,950 The amount of interest paid during 2020 was $4,230 and the amount of income taxes paid was $20.300. 8 Both current assets (other than cash) and current liabilities remained at the same amount. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a sign eg 15,000 or in parenthesis eg. (15,000)) BRAMBLE HOUSE INC. Statement of Cash Flows (Indirect Method) Adjustments to reconcile net income to net cash provided by operating activities: Queston 70010 Supplemental disclosures of cash flow information: eTextbook and Media Prepare a condensed statement of financial position at December 31, 2020, for Bramble House Inc. (List Assets in order of liquidity) BRAMBLE HOUSE INC. Statement of Financial Position Assets yutsuun7 OF 10 -/1 Liabilities and Equity