Bramble Inc., greeting card company that follows ASPE, had the following statements prepared as at December 31, 2020: BRAMBLE INC Comparative Statement of Financial Position December 31 2020 2019 Cash S52,775 $25,000 Accounts receivable 58,010 51.100 39,930 60.110 Inventory Prepaid rent 5.170 4.140 Equipment 157,930 130,120 Accumulated depreciation equipment (35.170) (25,140) Goodwill 30,000 68,000 Total assets $300.545 $313.490 Accounts payable $46.230 $40,120 3.930 6.110 2.000 4,080 8.010 10.100 Income tax payable Salaries and was payable Short-term loans payabla Long-term loans payable Commonshares Ratained earnings Total liabilities and shareholders' equity 70,000 87.000 130,000 130.000 42.295 36,000 $300.545 313,490 BRAMBLE INC Income Statement Year Ending December 31, 2020 $346, 120 Sales revenue Cost of goods sold Gross margin 165,000 181,120 Operating expenses 120,000 61,120 Operating income Interest expense Impairment loss-poodwin Gainon disposal of equipment $12,200 30,000 13,000 47,300 Income before income tax 12,820 Income tax expense 4.125 Net income $9,695 Additional information: 1. Dividends on common shares in the amount of $3,400 were declared and paid during 2020. Dividends paid are treated as fin 2. Depreciation expense is included in operating expenses, as is salaries and wages expense of $74.500. Equipment with a cost of $40,000 that was 709 deprecated was sold during 2020. 3. Question 3 of 3 - / 40 lli Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesises- (15,000 Bramble Inc Statement of Cash Flows (Indirect Method) Adjustments to reconcile net income/loss to net cash provided by operating activities: LAS V Save for Later Attempts: 0 of 5 used Submit.Angwer