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Condensed financial data of Bramble Inc. follow. BRAMBLE INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $84.100 $50,500 Accounts receivable 89.100 38,000 Inventory
Condensed financial data of Bramble Inc. follow. BRAMBLE INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $84.100 $50,500 Accounts receivable 89.100 38,000 Inventory 111,400 101,900 Prepaid expenses 29,700 27,300 Long-term investments 139,800 114,100 Plant assets 285,100 241,000 Accumulated depreciation (46,900) (48,300) Total $692,300 $524,500 Liabilities and Stockholders' Equity Accounts payable $110,000 $65,900 Accrued expenses payable 16,400 21,300 Bonds payable 119,400 150,000 Common stock 220,100 175,300 Retained earnings 226,400 112,000 Total $692,300 $524,500 BRAMBLE INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $380,800 Less: Cost of goods sold $135,400 Operating expenses, excluding depreciation 12,500 Depreciation expense 47,600 27,900 Income tax expense Interest expense 4,400 Loss on disposal of plant assets 7,000 234,800 Net income $146,000 Additional information: 1. 2. New plant assets costing $101,400 were purchased for cash during the year. Old plant assets having an original cost of $57,300 and accumulated depreciation of $49,000 were sold for $1,300 cash. Bonds payable matured and were paid off at face value for cash. A cash dividend of $31,600 was declared and paid during the year. 3. 4. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net Cash Provided by Operating Activities Depreciation Expense $ $
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