Question: A comparative balance sheet for Bramble Corporation is presented below: BRAMBLE CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation
A comparative balance sheet for Bramble Corporation is presented below: BRAMBLE CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Assets 2020 2019 $42,600 $33,200 73,300 62,200 28,300 19,200 20,200 49.900 72,200 62.200 (23,300) (15.200) $213,300 $211,500 Liabilities and Stockholders' Equity Accounts payable $14,300 $8,200 Bonds payable 29,200 21.200 Common stock 146,600 117,200 Retained earnings 23,200 64,900 Total liabilities and stockholders' equity $213,300 $211,500 Additional information: 1. Net loss for 2020 is $25,500. 2. Cash dividends of $16,200 were declared and paid in 2020. 3. Land was sold for cash at a loss of $6,200. This was the only land transaction during the year. 4. Equipment with a cost of $19,400 and accumulated depreciation of $12,200 was sold for $7,200 cash. 5. $24,200 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $29,400. Prepare a statement of cash flows for the year ended 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).) < < < < < Prepare a statement of cash flows for the year ended 2020, using the Indirect method. (Show amounts that decrease cash flow with either e-signes 15,000 or in parenthesis es (15,000)) Adjustments to reconcile net Income to > > > > > < < SIGNS ON A URSS Subroll Anver BRAMBLE CORPORATION Statement of Cash Flows
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