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Condensed financial data of Swifty Inc. follow. Additional information: 1. New plant assets costing $79,700 were purchased for cash during the year. 2. Old plant
Condensed financial data of Swifty Inc. follow. 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 cash. 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. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) $ Adjustments to reconcile net income to $ A * A
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