The statement of income of Bramble Transport Inc. for the year ended December 31, 2020, reported the following condensed information: $ 550,000 440,000 110,000 BRAMBLE TRANSPORT INC. Income Statement Year Ended December 31, 2020 Service revenue Operating expenses Income from operations Other reveries and expenses Gain on disposal of equipment $ 45,000 Interest expense 18,000 Income before income tax Income tax Net Income 27,000 137.000 27.400 $ 109,600 Bramble's statement of financial position included the following comparative data at December 31: Accounts receivable Prepaid insurance Accounts payable Interest payable Income tax payable 2020 $ 65,000 18,500 49,500 7.000 21.000 2019 $ 72,500 12,500 78,000 2.250 10.500 $ 45,000 18,000 Gain on disposal of equipment Interest expense Income before income tax Income tax Net Income 27,000 137,000 27.400 $109,600 Bramble's statement of financial position included the following comparative data at December 313 2020 2019 Accounts receivable $ 65.000 $ 72,500 Prepaid insurance 18,500 12,500 Accounts payable 49.500 78,000 Interest payable 7,000 2.250 Income tax payable 21,000 10.500 Unearned revenue 25,000 29.000 Additional information: Operating expenses include $160,000 in depreciation expense. The company follows IFRS. Assume that interest is treated as an operating activity for purposes of the statement of cash flows Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) BRAMBLE TRANSPORT INC. Partial Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities: Net cash operating activities $ e Textbook and Media Attempts: 0 of 1 used Submit Answer Save for later Last saved 29 minutes ago Saved work will be auto-submitted on the due date