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Statement of Cash Flow Presented below are the consolidated financial statements of The Brattle Corporation as of year-end 2020 and 2019. THE BRATTLE CORPORATION Consolidated
Statement of Cash Flow Presented below are the consolidated financial statements of The Brattle Corporation as of year-end 2020 and 2019. THE BRATTLE CORPORATION Consolidated Balance Sheets As of Year-End ($ thousands) 2020 2019 Assets Current assets Cash $450,000 $250,000 Accounts receivable (net) 990,000 760,000 Inventory 695,000 400,000 Prepaid expenses 100,000 100,000 Total current assets 2,235,000 1,510,000 Investments in affiliate companies 100,000 Property and equipment 1,310,000 800,000 Less: Accumulated depreciation (110,000) (80,000) Property & equipment (net) 1,200,000 720,000 Total assets $3,535,000 $2,230,000 Liabilities & Shareholders' Equity Current liabilities Accounts payable $570,000 $500,000 Accrued expenses payable 200,000 220,000 Dividends payable 70,000 Total current liabilities 840,000 720,000 Note payable-due in ten years 500,000 Total liabilities 1,340,000 720,000 Shareholders' equity Common stock, $5 par value 330,000 200,000 Additional paid-in-capital 1,200,000 1,160,000 Retained earnings 665,000 150,000 Total shareholders' equity 2,195,000 1,510,000 Total liabilities & shareholders' equity $3,535,000 $2,230,000 THE BRATTLE CORPORATION Consolidated Income Statement For Year Ended ($ thousands) 2020 2019 Sales $16,820,0000 $12,000,000 Cost of goods sold 14,015,000 10,400,000 Gross margin 2,805,000 1,600,000 Selling & administrative expenses 1,930,000 1,048,000 Depreciation expense 30,000 20,000 Income tax expense 240,000 152.000 Net income $605,000 $380,000 Required Using the above financial data, prepare the statement of cash flow for 2020 using the indirect method. What does the company's statement of cash flow Use a negative sign with answer to indicate a decrease in cash. THE BRATTLE CORPORATION Statement of Cash Flows For Year Ended 2020 . $ Add: Accounts receivable Inventory Prepaid expenses Accounts payable Investments in affiliate companies Notes payable Dividends paid Cash, beginning of year $ $
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