Brookstone Company Balance Sheets For the Period Ending December 31, 2021 2021 20201 Assets: Cash $29,568 $27.648 Accounts receivable 38,616 35,280 Merchandise inventory 87,750 74,052 Long-term investments 67,080 67,680 210,600 174,600 Machinery Accumulated depreciation (40.260 (37.440) Total assets $393,354 $341,820 Liabilities: Accounts payable $78,000 $48,456 12,870 12,2401 Income taxes payable Bonds payable 58.500 79.200 Total liabilities $149,370 $139,896 Equity: Common stock 140,400 115,200 Paid-in capital in excess of par 15,600 10,8001 Retained earnings 87.984 75.924 Total equity $243.984 $201,924) Total liabilities and equity $393.354 $341.820 Brookstone Company Income Statement For Year Ended December 31, 2021 Sales $288.0001 Cost of goods sold $97,080 Depreciation expense 35,280 Other operating expenses 57,600 Interest expense 2.400 -192,360 Other gains (losses): Loss on sale of equipment (10.080 Income before taxes 85,560 Income taxes expense 33.180 Net income $52.380 Additional information: (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. (2) Old machinery with an original cost of $45,060 was sold for $2,520 cash. (3) Loss on Sale of Plant Asset was $10,080 (4) New machinery was purchased for $81,060 cash. (5) Cash dividends of $40,320 were paid. (6) Additional shares of stock were issued for cash. (6) Additional shares of stock were issued for cash. Cash Flows From Operations Increase in accounts receivable Increase in merchandise inventory Increase in accounts payable Increase in income taxes payable Depreciation expense Loss on sale of plant assets Net cash provided by operating activities Total Cash Flows From Investing Activities: Cash received from sale of plant assets Cash received from sale of long-term investment Cash paid for purchase of plant assets Net Cash Provided By Investing Activities Total