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 Current assets (non-cash) Bond investment at amortized cost Plant assets (net) Land $10,950 34,150 40,700 57,850 38,600 $182,250 Current liabilities Long-term notes payable Bonds payable Common shares Retained earnings $14,850 30,950 32,100 80,700 23,650 $182,250 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. 2. 3. 4. 5. 6. 7. Bramble House Inc. sold part of its investment portfolio in bonds for $16,300, resulting in a gain of $240. Dividends totalling $16,700 were paid to shareholders. A parcel of land, to be used as a parking lot, was purchased for $4,200. Common shares were issued for cash totalling $19,200. Bonds payable of $8,800 were retired at par. Equipment was purchased through the issuance of $31,000 of bonds. Net income for 2020 was $44,000 after allowing for depreciation on Bramble House Inc's plant assets of $14,400. The amount of interest paid during 2020 was $4,190 and the amount of income taxes paid was $19,600. Both current assets (other than cash) and current liabilities remained at the same amount. 8. 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: $ A Liabilities and Equity $