Proceeds from Sale of Investments X Financing Activities x Net Cash Provided by Investing Activities ~ Purchase of Investments Increase in Accounts Payable Cash Payments for Interest Increase in Accounts Receivable Cash Collections From Customers Payment of Cash Dividends Decrease in Accounts Receivable Cash Payments for Income Taxes Proceeds from Sale of Investments Decrease in Inventory Issuance of Bonds Payable Proceeds from Sale of Equipment Purchase of Equipment Decrease in Accounts Payable Cash Payments to Suppliers Increase in Inventory Loss on Sale of Land | Rights Reserve Cash Payments for Operating ExpensesCash, January 1 Cash, December 31 Financing Activities Investing Activities Operating Activities V Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Net Cash Provided by Financing Activities VInformation from the Balance Sheet and Statement of Income are given below for Bramble Inc., a private company reporting under ASPE, for the year ended December 31. Comparative Balance Sheet 2021 2020 Cash $ 78,110 $ 47,350 Accounts receivable 90,940 37,350 Inventory 123,440 103,750 Investments in land 86,540 108,350 Property, plant, and equipment 286,640 202,200 Accumulated depreciation (50,060) (40,200) $615,610 $458,800 Accounts payable $54,140 $49,850 Accrued expenses payable 13,140 19,250 Bonds payable 140,000 76,000 Common shares 250,000 207,000 Retained earnings 158,330 106,700 $615,610 $458,800 Revenues Sales $292,500 Gain on disposal of equipment 8,350 300,850 Expenses Cost of goods sold $ 96,250 Depreciation expense 57,300 Operating expenses 15,470 Income tax expense 38,000 Interest expense 2,950 209,970 Profit $ 90,880 Additional Information: 1. Investments in land were sold at cost during 2021. 2. Equipment costing $56,640 was sold for $17,550, resulting in a gain. 3. Common shares were issued in exchange for some equipment during the year. No other shares were issued. 4. The remaining purchases of equipment were paid for in cash. Prepare a Cash Flow Statement for the year ended December 31, 2021 using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -45,000 or in pBRAMBLE INC. Cash Flow Statement - Direct Method For the Year Ended December 31, 2021 Operating Activities Cash Collections From Customers Cash Payments to Suppliers Cash Payments for Interest X Cash Payments for Income Taxes Cash Payments for Operating Expenses Net Cash Provided by Operating Activities Investing Activities Proceeds from Sale of Equipment x Purchase of Equipment Proceeds from Sale of Investments X Financing Activities Net Cash Provided by In X Purchase of Investment: (Payment of Cash Dividends) Net Cash Provided by Financing Activities Net Increase in Cash Cash, January 1 Cash, December 31
