Exercise 23-14 Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2017. BRECKER INC.

Exercise 23-14 Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2017. BRECKER INC.. Exercise 23-14Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2017.BRECKER INC.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2017 AND 201612/31/1712/31/16Cash$6,000$7,000Accounts receivable62,00051,000Short-term debt investments (available-for-sale)35,00018,000Inventory40,00060,000Prepaid rent5,0004,000Equipment154,000130,000Accumulated depreciation?equipment(35,000)(25,000)Copyrights46,000ÿ50,000ÿTotal assets$313,000ÿ$295,000ÿÿAccounts payable$46,000$40,000Income taxes payable4,0006,000Salaries and wages payable8,0004,000Short-term loans payable8,00010,000Long-term loans payable60,00069,000Common stock, $10 par100,000100,000Contributed capital, common stock30,00030,000Retained earnings57,000ÿ36,000ÿTotal liabilities & stockholders’ equity$313,000ÿ$295,000BRECKER INC.INCOME STATEMENTFOR THE YEAR ENDING DECEMBER 31, 2017Sales revenue$338,150Cost of goods sold175,000Gross profit163,150Operating expenses120,000Operating income43,150Interest expense$11,400Gain on sale of equipment2,0009,400Income before tax33,750Income tax expense6,750Net income$27,000Additional information:1.Dividends in the amount of $6,000ÿwere declared and paid during 2017.2.Depreciation expense and amortization expense are included in operating expenses.3.No unrealized gains or losses have occurred on the investments during the year.4.Equipment that had a cost of $20,000ÿand was 70% depreciated was sold during 2017.I need to make a statement of cash flows with this information using the indirect method.

Exercise 23-14 Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2017. BRECKER INC.