Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31. 2017 2016Cash $178,500 $49,000 Accounts receivable 115,900 76,800 Investments 68,900 98,300 Equipment 350,900 177,300 Accumulated depreciation—equipment (95,100) (65,700)Current liabilities 135,300 91,900 Common stock 142,500 62,500 Retained earnings 333,700 173,700 Additional information:Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income was $203,500. Prepare a statement of cash flows for 2017 for Bramble Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Answered: Presented below is a condensed version…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31.

	2017	2016
Cash	$178,500	$49,000
Accounts receivable	115,900	76,800
Investments	68,900	98,300
Equipment	350,900	177,300
Accumulated depreciation—equipment	(95,100)	(65,700)
Current liabilities	135,300	91,900
Common stock	142,500	62,500
Retained earnings	333,700	173,700

Additional information:

Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income was $203,500.

Prepare a statement of cash flows for 2017 for Bramble Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

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