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Condensed financial data of Bramble Corp. follow. Bramble Corp. Comparative Balance Sheets December 31 Assets 2017 2016 Cash $ 138,976 $ 83,248 Accounts receivable 151,016

Condensed financial data of Bramble Corp. follow.

Bramble Corp. Comparative Balance Sheets December 31

Assets

2017

2016

Cash

$ 138,976

$ 83,248

Accounts receivable

151,016

65,360

Inventory

193,500

176,902

Prepaid expenses

48,848

44,720

Long-term investments

237,360

187,480

Plant assets

490,200

417,100

Accumulated depreciation

(86,000

)

(89,440

)

Total

$1,173,900

$885,370

Liabilities and Stockholders Equity

Accounts payable

$ 175,440

$ 115,756

Accrued expenses payable

28,380

36,120

Bonds payable

189,200

251,120

Common stock

378,400

301,000

Retained earnings

402,480

181,374

Total

$1,173,900

$885,370

Bramble Corp. Income Statement Data For the Year Ended December 31, 2017

Sales revenue

$668,151

Less:
Cost of goods sold

$232,991

Operating expenses, excluding depreciation

21,345

Depreciation expense

79,980

Income tax expense

46,922

Interest expense

8,136

Loss on disposal of plant assets

12,900

402,274

Net income

$ 265,877

Additional information:

1. New plant assets costing $172,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $98,900 and accumulated depreciation of $83,420 were sold for $2,580 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $44,771 was declared and paid during the year.

Prepare a statement of cash flows using the indirect method.

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