Condensed financial data of Swifty Corporation follow. Swifty Corporation Comparative Balance Sheets December 31 Assets 2022 2021 Cash $100,100 $47,600 Accounts receivable 92,800 33,700 Inventory 111,500 101,700 Prepaid expenses 29,400 25,700 Long-term investments 140,200 114.100 Plant assets 274,000 241,200 Accumulated depreciation (47,500) (52,100) Total $700,500 $511,900 Liabilities and Stockholders' Equity Accounts payable $111,200 $67,000 Accrued expenses payable 16,500 17,000 Bonds payable 114,400 149,800 Common stock 219,100 174,000 Retained earnings 239,300 104,100 Total $700,500 $511,900 Swifty Corporation Income Statement For the Year Ended December 31, 2022 Sales revenue $391,400 Less: Cost of goods sold $135,700 Operating expenses, excluding depreciation 11,100 Depreciation expense 32,300 Income tax expense 27,600 Interest expense 4,500 Loss on disposal of plant assets 7.500 218,700 Net income $172,700 Additional information: 1. New plant assets costing $79,700 were purchased for cash during the year. 2. Old plant assets having an original cost of $46,900 and accumulated depreciation of $36,900 were sold for $2,500 cas 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $37,500 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. chicing the indirect method Shou Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 parenthesis e.g. (15,000).) Swifty Corporation Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to $ Question 2 of 2 -/25 E