Condensed financial data of Bramble Inc. follow. BRAMBLE INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $105,400 $48,900 33,700 91,000 111.400 101,900 29.700 25,100 Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 139,800 114,100 274,500 241,200 (46,900) (51,600) $704,900 $513,300 $111,400 $67,300 Liabilities and Stockholders'Equity Accounts payable Accrued expenses payable Bonds payable Common stock 16,400 17.300 119.400 150,000 220,100 175,300 Retained earnings 237,600 103,400 Total $704,900 $513,300 BRAMBLE INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $392,600 Less: $135,400 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense 12,500 31,500 Income tax expense 27,900 4.400 Interest expense Loss on disposal of plant assets Net income 7,500 219,200 $173,400 Additional information: 1. 2. 3. New plant assets costing $79,900 were purchased for cash during the year. Old plant assets having an original cost of $46,600 and accumulated depreciation of $36,200 were sold for $2,900 cash. Bonds payable matured and were paid off at face value for cash. A cash dividend of $39,200 was declared and paid during the year. Common stock was issued at par for cash. There were no significant noncash transactions. 4. 5. 6. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signeg.-15,000 or in parenthesis eg. (15,000).) BRAMBLE INC. Statement of Cash Flows Adjustments to reconcile net income to e Textbook and Media