Your answer is partially correct. Try again Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sig Bramble Corp. Statement of Cash Flows For the Year Ended December 31, 2019 Cash Flows from Operating Activities 32,300 Net Income Adjustments to reconcile net income to Net Cash Provided by Financing Activities Depreciation Expense 14000 32300 Increase in Accounts Receivable Increase in Inventory 30200 Increase in AcCounts Payable 28100 7500 Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Cash Flows from Financing Activities Payment of Dividends 22600 Redemption of Bonds 26900 17600 Issuance of Common Stock Net Cash Used by Financing Activities Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period Open Show Work Click if you would like to Show Work for this question: Problem 12-7A (Part Level Submission) The following are the financial statements of Bramble Corp. Bramble Corp. Comparative Balance Sheets December 31 Assets 2019 2018 Cash $37,700 $20,000 Accounts receivable 32,300 18,300 Inventory 30,200 20,200 59,700 Equipment 77,400 (29,400) 23,500) Accumulated depreciation-equipment $130,500 $112,400 Total Liabilities and Stockholders' Equity $16,900 Accounts payable $28,100 7,500 Income taxes payable 8,400 Bonds payable 26,900 32,400 17,600 14,000 Common stock Retained earnings 50,400 40,700 Total $130,500 $112,400 Bramble Corp. Income Statement For the Year Ended December 31, 2019 Sales revenue $242,600 175,300 Cost of goods sold Gross profit 67,300 24,900 Operating expenses Income from operations 42,400 3,100 Interest expense Income before income taxes 39,300 Income tax expense 7,000 $32,300 Net income Additional data: 1. Dividends declared and paid were $22,600 2. During the year, equipment was sold for $9,600 cash. This equipment cost $17,700 originally and had a book value of $9,600 at the time of sale in the operating expenses 3. All depreciation expense, $14,000, 4. All sales and purchases are on account