Bramble Inc. had the following balance sheet at December 31, 2016. BRAMBLE INC. BALANCE SHEET DECEMBER 31, 2016 Cash $22,220 Accounts payable $32,220 Accounts receivable 23,420 Notes payable (long-term) 43,220 Investments 34,220 Common stock 102,220 Plant assets (net) Retained earnings 81,000 25,420 42,220 $203,080 Land $203,080 During 2017, the following occurred. gain of $3,686 for the firm. The company classifies its investments as 1. Bramble Inc. sold part of its investment portfolio for $15,286. This transaction resulted in available-for-sale. A tract of land was purchased for $15,220 cash 2. Long-term notes payable in the amount of $16,286 were retired before maturity by paying $16,286 cash 3. An additional $20,286 in common stock was issued at par 4. 5. Dividends of $8,486 were declared and paid to stockholders. Net income for 2017 was $34,220 after allowing for depreciation of $11,286. 6. 7. Land was prchased through the issuance of $37,220 in bonds. 8. At December 31, 2017, Cash was $39,220, Accounts Receivable was $43,820, and Accounts Payable remained at $32,220. Prepare a statement of cash flows for 2017. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in paren thesis e.g. (15,000).) BRAMBLE INC Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities 34,220 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities 11,286 Depreciation Expense Gain on Sale of Investments (3,686) Account Receivable (20,400) Increase (12,800) Net Cash Provided by Operating Activities * 21,420 Cash Flows from Investing Activities 15,286 Sale of Investments 15,286 Purchase of Land Net Cash Provided by Investing Activities 66 Cash Flows from Financing Activities Retirement of Notes Payable (16,286) Issuance of Common Stock 20,286 8,486 Payment of Cash Dividends Net Cash Provided by Financing Activities (4,486) Net Increase in Cash 17,000 22,220 Cash at Beginning of Year 39,220 Cash at End of Year Land purchased through issuance of $ of bonds Compute two cash flow ratios. (Round ratios to 2 decimal places, e.g. 0.62.) Current cash debt coverage ratio 1 Cash debt coverage ratio 1 Open Show Work Click if you would like to Show Work for this question: Prepare an unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity.) BRAMBLE INC. Balance Sheet Assets $ $ Liabilities and Stockholders' Equity $