Presented here are the financial statements of Bramble Company. BRAMBLE COMPANY Income Statement For the Year Ended December 31, 2022 \begin{tabular}{lr} Sales revenue & $241,500 \\ Cost of goods sold & 176,500 \\ \hline Gross profit & 65,000 \\ Selling expenses & \\ \hline Administrative expenses & 517,550 \\ \hline Income from operations & 23,400 \\ \hline Interest expense & 41,600 \\ \hline Income before income taxes & 3,400 \\ \hline Income tax expense & 38,200 \\ Net income & 7,640 \\ \hline \end{tabular} Additional data: 1. Depreciation expense was $16,300. 2. Dividends declared and paid were $22,760. 3. During the year, equipment was sold for $8,800 cash. This equipment originally cost $18,400 and had accumulated depreciation of $9,600 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. Prepare a statement of cash flows for Bramble Company using the direct method. (Show amounts that decrease cosh flow with either a sign e.g. 15,000 or in parenthesis eg. (15,000).) eTextbook and Media