Balance sheets for Brierwold Corporation follow: Brierwold.

Balance sheets for Brierwold Corporation follow:

Brierwold Corporation
Balance Sheet
1Beginning Balances


Ending Balances


4Accounts receivable200,000.00180,000.00
6Plant and equipment700,000.00690,000.00
7Accumulated depreciation(200,000.00)(245,000.00)
9Total assets$1,300,000.00$1,335,000.00
10Liabilities and equity:
11Accounts payable$300,000.00$250,000.00
12Mortgage payable0.00110,000.00
13Preferred stock100,000.000.00
14Common stock240,000.00280,000.00
15Paid-in capital in excess of par360,000.00420,000.00
16Retained earnings300,000.00275,000.00
17Total liabilities and stockholders’ equity$1,300,000.00$1,335,000.00

Additional transactions were as follows:

A.Purchased equipment costing $50,000.
B.Sold equipment costing $60,000, with a book value of $25,000, for $40,000.
C.Retired preferred stock at a cost of $110,000. (The premium is debited to Retained Earnings.)
D.Issued 10,000 shares of common stock (par value, $4) for $10 per share.
E.Reported a loss of $15,000 for the year.
F.Purchased land for $50,000.
Prepare a statement of cash flows using the indirect method


Refer to the list below for exact wording of an amount description within your Statement of Cash Flows.

Amount Descriptions
Decrease in accounts payable
Decrease in accounts receivable
Decrease in inventory
Depreciation expense
Gain on sale of equipment
Increase in accounts payable
Increase in accounts receivable
Increase in inventory
Issuance of common stock
Issuance of preferred stock
Loss on sale of equipment
Net cash from financing activities
Net cash from investing activities
Net cash from operating activities
Net decrease in cash
Net income
Net loss
Net increase in cash
Purchase of equipment
Purchase of land
Receipt of mortgage
Retirement of common stock
Retirement of mortgage
Retirement of preferred stock
Sale of equipment
Sale of land


Prepare a statement of cash flows using the indirect method.(Use a minus sign to indicate a negative amount. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.)

Brierwold Corporation
Statement of Cash Flows
For the Year ended December 31, 20X2
1Cash flows from operating activities:
3Add (deduct) adjusting items:
10Cash flows from investing activities:
15Cash flows from financing activities:






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