Total Total - Question 1 (27 marks) Using the financial statements and the transactional data reported for Bryant Limited, prepare a statement of cash flows using the indirect method. Ensure to report any non-cash investing and financing activities. Bryant Limited Income Statement For the Year Ended December 31, 2021 Bryant Limited Balance Sheet As at December 31, 2021 191,000 75,000 116,000 2021 2020 Assets Cash Accounts receivable Inventory Long-term investments Property, Plant & Equipment (net) Total assets S $ $ $ $ $ $ 14,000 $ 12,000 $ 16,000 $ 145,000 $ 93,000 $ 280,000 $ 8,000 9,500 14,000 95,500 84,000 211,000 Sales Revenue $ Cost of goods sold $ Gross Margin $ Operating expenses Administrative expenses $ Depreciation expense $ Other operating expenses $ Salary expenses $ Total operating expenses $ Other items: Gain on sale of long term investme $ Loss on sale of equipment $ $ Income before income tax $ Income tax expense $ Net income $ 4,000 10,000 5,000 42,000 61,000 1,500 3,000 53,500 21,000 32,500 Liabilities and Shareholders' Equity Liabilities Accounts payable Accrued liabilities Long-term notes payable Bonds payable Total liabilities Shareholders' equity Common shares Retained eamings Total equity Total liabilities & equity S $ $ $ S 11,700 $ 4,800 $ 43,000 $ 50,000 109,500 $ 15,000 2,000 51,000 $ 60,000 68,000 $ $ $ 12,000 35,000 $ S $ $ S $ 21,000 $ 149,500 $ 170,500 $ 280,000 $ 15,000 128,000 143,000 211,000 Transaction Data for 2021 Purchase of long term investment Proceeds on sale of long term investment (book value, $10,500) Purchase of equipment Proceeds on sale of equipment (carrying amount, $16,000) Issuance of long term debt to borrow cash Repayment of long term debt Issuance of bonds payable for cash Issuance of common shares for cash Payment of cash dividends Company purchased $80,000 in Machinery in exchange for a 1 year, 6% note payable S $ $ $ $ $ $ $ 13,000 12,000 20,000 50,000 6,000 11,000 $ 80,000