Brookstone Company Cash Flow Statement (Continued) Brookstone Company Balance Sheets At December 31, 2019 Assets: 2019 2018 Cash $ 34,182 $ 27,648 Accounts receivable 34,616 35,280 85,716 74,052 71,680 67,680 Merchandise inventory Long-term investments Machinery Accumulated depreciation 210,600 174,600 (40,260) (37,440) Total assets $396,534 $ 341,820 $ 78,000 $ 48,456 Liabilities: Accounts payable Income taxes payable Bonds payable 12,870 12,240 58,500 79,200 Total liabilities 149,370 139,896 Equity: Common stock 156,000 126,000 75,924 Retained earnings 91,164 Total equity 247,164 201,924 Total liabilities and equity $396,534 $ 341,820 Brookstone Company Income Statement For Year Ended December 31, 2019 $ 288,000 $ 97,080 Sales Cost of goods sold Depreciation expense Other operating expenses 35,280 57,600 Interest expense 2,400 (192,360) Other gains (losses): Loss on sale of machinery (6,900) Income before taxes 88,740 Income taxes expense 33,180 Net income $ 55,560 Additional Information: (a) (b) (c) (d) (e) (f) Some bonds were retired for $20,700 in cash. Old machinery with an original cost of $45,060 and accumulated depreciation of $32,460 was sold for $5,700 cash. New machinery was purchased for $81,060 cash. Purchased long-term investments for $4,000 in cash Cash dividends of $40,320 were paid. Additional shares of stock were issued for $30,000 in cash. Required: Use the Cash Flow Statement Template provided in the instructions. Prepare a complete statement of cash flows using your calculations and income statement information above. Some titles on the template may have to be changed to fit your statement. You should use the indirect method for determining cash flows from operating activities