Question

The current sections of Bramble Corps balance sheets at December 31, 2019 and 2020, are presented here. Bramble's net income for 2020 was $152,400. Depreciation expense was $23,900. 2019 2018 Current assets Cash Accounts receivable Inventory $104,800 $96.200 111,500 79,200 159,000 172,200 26,900 25,400 $402,200 $373,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $14.500 84.400 $98,900 $9,800 95.900 $105,700 Total current liabilities

Answer 1

Solution

Bramble Corp.
Statement of cash flows-Indirect Method
Cash Flow from Operating Activities:
Net Income		$ 1,52,400.00
Adjustments to reconcile net income to
Net cash from operating activities
Depreciation expense	$   23,900.00
Increase in Accounts receivables	$ (32,500.00)
Decrease in Inventory	$   13,200.00
Increase in prepaid expense	$   (1,500.00)
Increase in accrues expense payable	$      4,700.00
Decrease in accounts payable	$ (11,500.00)
		$     (3,700.00)
Cash Flow from Operating Activities		$ 1,48,700.00