174. The following information is available for the Brookstone Company: Brookstone Company Balance Sheets At December 31 2015 2014 Assets: Cash................................... $ 29,568 $ 27,648 Accounts receivable......................... 38,616 35,280 Merchandise inventory...................... 87,750 74,052 Long-term investments...................... 67,080 67,680 Machinery............................... 210,600 174,600 Accumulated depreciation.................... (40,260 ) (37,440 ) Total assets............................... $393,354 $341,820 Liabilities: Accounts payable.......................... $ 78,000 $ 48,456 Income taxes payable....................... 12,870 12,240 Bonds payable............................ 58,500 79,200 Total liabilities............................. $149,370 $139,896 Equity: Common stock............................ 140,400 115,200 Paid-in capital in excess of par................... 15,600 10,800 Retained earnings.......................... 87,984 75,924 Total equity............................... $243,984 $201,924 Total liabilities and equity...................... $393,354 $341,820 Brookstone Company Income Statement For Year Ended December 31, 2015 Sales............................ $288,000 Cost of goods sold................... $97,080 Depreciation expense................ 35,280 Other operating expenses.............. 57,600 Interest expense.................... 2,400 (192,360 ) Other gains (losses): Loss on sale of equipment............ (10,080 ) Income before taxes................. 85,560 Income taxes expense................ 33,180 Net income....................... $ 52,380 Additional information:(1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired.(2) Old machinery with an original cost of $45,060 was sold for $2,520 cash.(3) New machinery was purchased for $81,060 cash.(4) Cash dividends of $40,320 were paid.(5) Additional shares of stock were issued for cash. Prepare a complete statement of cash flows for calendar-year 2013 using the indirect method.

174. The following information is available for the Brookstone Company: Brookstone Company Balance Sheets At December 31 2015 2014 Assets: ...

174. The following information is available for the Brookstone Company:

Brookstone Company Balance Sheets At December 31
	2015		2014
Assets:
Cash...................................	$ 29,568		$ 27,648
Accounts receivable.........................	38,616		35,280
Merchandise inventory......................	87,750		74,052
Long-term investments......................	67,080		67,680
Machinery...............................	210,600		174,600
Accumulated depreciation....................	(40,260	)	(37,440	)
Total assets...............................	$393,354		$341,820

Liabilities:
Accounts payable..........................	$ 78,000		$ 48,456
Income taxes payable.......................	12,870		12,240
Bonds payable............................	58,500		79,200
Total liabilities.............................	$149,370		$139,896
Equity:
Common stock............................	140,400		115,200
Paid-in capital in excess of par...................	15,600		10,800
Retained earnings..........................	87,984		75,924
Total equity...............................	$243,984		$201,924
Total liabilities and equity......................	$393,354		$341,820

Brookstone Company Income Statement For Year Ended December 31, 2015
Sales............................		$288,000
Cost of goods sold...................	$97,080
Depreciation expense................	35,280
Other operating expenses..............	57,600
Interest expense....................	2,400	(192,360	)
Other gains (losses):
Loss on sale of equipment............		(10,080	)
Income before taxes.................		85,560
Income taxes expense................		33,180
Net income.......................		$ 52,380

Additional information:
(1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired.
(2) Old machinery with an original cost of $45,060 was sold for $2,520 cash.
(3) New machinery was purchased for $81,060 cash.
(4) Cash dividends of $40,320 were paid.
(5) Additional shares of stock were issued for cash.

Prepare a complete statement of cash flows for calendar-year 2013 using the indirect method.

May 15, 2022

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174. The following information is available for the Brookstone Company: Brookstone Company Balance Sheets At December 31 2015 2014 Assets: ...

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