HW 12.3 Prepare the cash flow statement for Bruce Co using the indirect method and the following: Bruce Company Income Statement Year Ending 12/31/X6 20X6 160 20 10 25 135 35 290 605 Assets Cash A/R Prepaid expenses Inventory Plant & equipment Accum. deprec.- plant Long-term investments Total assets Liabilities & Equity A/P Unearned revenue Taxes payable Bonds payable Common stock Retained earnings Total liabilities & equity 20X5 115 10 20 20 250 15 220 620 Sales Cost of goods sold Gross Profit Operating expenses Gain/Loss on Plant & Equip Income before taxes Tax expense Net income 1,000 500 500 470 5 35 5 30 40 15 15 160 160 215 605 30 20 25 240 100 205 620 Bruce Co paid out $20 in dividends and received $110 for the sale of equipment that had originally cost $115 and on which there was $10 of accumulated depreciation