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Assignment Material 2019 BRENTWOOD BAY INC. Balance Sheet September 30, 2020 and 2019 Assets 2020 Current assets Cash $ 194,800 Accounts receivable 167,600 Interest receivable 16,400 Inventory 486,800 Prepaid expenses 34,400 Long-term investments 204,400 Plant and equipment, net 527,600 Land 188,400 Total assets $1,820,400 Liabilities Current liabilities Notes payable, short-term 40,000 Accounts payable 247,200 Income tax payable 47,200 Accrued liabilities 71,600 Interest payable 18,000 Salaries payable 6,000 Long-term note payable 492,000 Shareholders' Equity Common shares 543,600 Retained earnings 354,800 $ 96,400 164,000 11,200 467,600 37,200 55,200 416,400 297,200 $1545,200 281,200 46,400 116,400 12,800 4,400 525,600 336,000 222,400 sity (Trans' BU Network analysis... Imported From Sa... Assignment Material Interest payante Salaries payable Long-term note payable Shareholders' Equity Common shares Retained earnings Total liabilities and shareholders' equity 78,000 6,000 492,000 TZ800 4,400 525,600 543,600 354,800 $1,820,400 336,000 222,400 $1,545,200 Other information for the year ended September 30, 2020 that may be needed includes a. Acquired equipment by issuing long-term note payable, $89,200, and paying $16,000 cash. b. Paid long-term note payable, $122,800. c. Received $207,600 cash for issuance of common shares. d. Paid cash dividends, $217,200. e. Acquired equipment by issuing short-term note payable, $40,000. f. Net income, $349,600 8. Amortization expense, $34,000 h. Gain on sale of land, $43,600 Required 1. Prepare Brentwood Bay Inc.'s operating section of the cash flow statement for the year ended September 30, 2020, using the indirect method

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