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TIHER PRINTER VERSION ES Exercise 5-18 The comparative statement of financial position of Bramble Corporation as at December 31, 2017, follows: BRAMBLE CORPORATION Statement of Financial Position December 31 December 31 Assets 2017 2016 Cash $ 63,600 $ 15,600 Accounts receivable 109,200 105,600 Equipment 32,400 26,400 Less: Accumulated depreciation (12,000) (13,200) Total $193,200 $134,400 Llabilities and Shareholders' Equity Accounts payable $ 24,000 $ 18,000 Common shares 120,000 Retained earnings 49,200 20,400 Total $193,200 $134,400 96,000 Net Income of $44,400 was reported and dividends of $15,600 were declared and paid in 2017. New equipment was purchased, and equipment with a carrying value of $6,000 (cost of $14 accumulated depreciation of $8,400) was sold for $9,600. Prepare a statement of cash flows using the Indirect method for cash flows from operating activities. Assume that Bramble prepares financial statements in accordance with ASPE. (Show ar that decrease cash flow with either a sign .g. -15,000 or in parenthesis e.g. (15,000).) BRAMBLE CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 PRINTER VERSION RACK NEXT Net income of $44,400 was reported and dividends of $15,600 were declared and paid in 2017. New equipment was purchased, and equipment with a carrying value of $6,000 (cost of $14,400 and accumulated depreciation of $8,400) was sold for 9,600 Prepare a statement of cash flows using the indirect method for cash flows from operating activities. Assume that Bramble prepares financial statements in accordance with ASPE. (Show amounts that decrease cash flow with either a signe.. +15,000 or in parenthesis e.g. (18,000).) BRAMBLE CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income /(L03) . Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Expense . Gain on Sale of Equipment : Increase in Accounts Payable . Increase in Accounts Receivable . Cash Flows from Investing Activities + Increase in Accounts Receivable PRINTER Cash Flows from Investing Activities Proceeds from Sale of Equipment Purchase of Equipment Net Cash used by Investing Activities Cash Flows from Financing Activities Issuance of Common Shares Payment of Cash Dividends Net Cash used by Financing Activities Net Increase in Cash Cash at Beginning of Year Cash at End of Year