Exercise 12-3

Bramble Corp. reported net income of $206,930 for 2017. Bramble Corp. also reported depreciation expense of $33,830 and a loss of $4,940 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,280 for the year, a $16,620 increase in accounts payable, and a $4,190 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)