Problem 12-3 (Part Level Submission) Brambla Corporation, a private cntity reporting under ASPE, was incorporated on January 3, 2010. The corporatian's financial statements for its first year of aperations were not axamined by a public accountant. Yau have been engaged to audit the financial statements for the ynar ondad Dacember 31, 2017, and your audit is almost camplate. The corporatian's trial balance is as follows: BRAMBLE CORPORATION Trial Balance December 31, 2017 Debit Credit Cash Accounts rece vable Allowance for doubtful accounts Inventory Machinery Equipment Atcumulated depreciation 57,D10 85,000 E1,800 61,200 82,000 38,000 28,000 Leasehold improvements Prepaid expenses Gondwil Intangible assets-licensing agreement No. 1 Intangible assets-licensing agreement No. 2 Accournts payable ineamed ravenUR Common shares 120,210 32,900 12,000 29,0u0 55,500 53,000 93,000 17,780 300,000 Problem 12-3 (Part Level Submission) Brambla Corporation, a private cntity reporting under ASPE, was incorporated on January 3, 2010. The corporatian's financial statements for its first year of aperations were not axamined by a public accountant. Yau have been engaged to audit the financial statements for the ynar ondad Dacember 31, 2017, and your audit is almost camplate. The corporatian's trial balance is as follows: BRAMBLE CORPORATION Trial Balance December 31, 2017 Debit Credit Cash Accounts rece vable Allowance for doubtful accounts Inventory Machinery Equipment Atcumulated depreciation 57,D10 85,000 E1,800 61,200 82,000 38,000 28,000 Leasehold improvements Prepaid expenses Gondwil Intangible assets-licensing agreement No. 1 Intangible assets-licensing agreement No. 2 Accournts payable ineamed ravenUR Common shares 120,210 32,900 12,000 29,0u0 55,500 53,000 93,000 17,780 300,000