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Bramble Inc, a greeting card company that follows ASPE. had the following statements prepared as at Decernber 31, 2023: \begin{tabular}{lrr} Accounts payable & $46,240 & $40,120 \\ Income tax payable & 4,170 & 6,180 \\ Salaries and wages payable & 8,120 & 4,120 \\ Short-term loans payable & 7,980 & 10,130 \\ Long-term loans payable & 74,000 & 85,000 \\ Common shares & 130,000 & 130,000 \\ Retained earnings & 41,135 & 36,000 \\ \hline Total liabilities and shareholders' equity & $311,645 & $311,550 \\ \hline \end{tabular} Bramble inc: Income Statement Year Ended December 31, 2023 Sales revenue $340,705 Cost of goods sold Gross margin Operating expenses 165,000175,705 120000 Additional information: Dividends on common shares in the amount of $4.500 were declared and paid during 2023. Dividends paid are treated as 1. financing activities. 2. Depreciation expense is included in operating expenses, as is salaries and wages expense of $74,000 : 3. Equipment with a cost of $32,000 that was 70% depreciated was sold during 2023. Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a negative sign eg - 10,000 or in parenthesises. (10,000) Cash flows from Irvesting Activities Purchase of Equipment Proceeds on Sale of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Principal Payments on Short-Term Louns Principal Payments on Long Term Loans Dividends Paid 11100 Net Cash Used by Financing Activities Net Increase in Cash Net Cash Used by Financing Activities Net Increase in Cash Cash. fanuary 1, 2023 Cash, December 31, 2023

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