eBook 3 Show Me How Calculator Statement of Cash Flows Instructions Amount Descriptions Statement of Cash Flows concluding Question Instructions Swasey Company provided the following partial comparative balance sheets and the income statement for 20X2 Swasey Company Comparative Balance Sheets At December 31, 20X1 and 20X2 20X1 20X2 2 Current assets $235.500.00 5753,000.00 $675,000.00 $586,500.00 + Accounts receivable nyaYcnuW.CUM LOREMSsien takeAssignmentMain.?invokerrotakeAssian eBook Show Me How 5 Calculator Statement of Cash Flows Instructions Amount Descriptions Statement of Cash Flows Concluding Question Instructions At December 31, 20X1 and 20x2 20X1 20X2 2 3 Current assets: Cash 5675,000.00 Accounts receivable $235.500.00 $753,000.00 303,000.00 $586,500.00 316,000.00 Inventories Long-term assets: 2,193,000.00 2.151,000.00 Plant and equipment Accumulated depreciation (1.201.000.00) (1.291,000.00) Land 992,000.00 53.275,500.00 1,443,500.00 $3,881,000.00 10 Total assets BOOK JUUWIVE IT VOICE Statement of Cash Flows Instructions Amount Descriptions Statement of Cash Flows Concluding Questi Instructions 10 Total assets $3.275,500.00 $3,881,000.00 11 Current Liabilities: $700,000.00 5511,000.00 0.00 382,000.00 102,500.00 0.00 12 Wages payable 13 Long-term liabilities: 14 Bonds payable Mortgage payable 16 Total liabilities 17 Stockholders' equity: 18 Common stock 19 Paid-in capital in excess of par $802,500.00 $893,000.00 375,000.00 282,000.00 375,000.00 282,000.00 eBook Show Me How 6 Calculator Statement of Cash Flows Instructions Amount Descriptions Statement of Cash Flows Concluding Questio Instructions 375,000.00 375,000.00 282,000.00 282,000.00 17 Stockholders equity: 18 Common stock 19 Paid-in capital in excess of par 20 Retained earnings 21 Total stockholders' equity 22 Total liabilities and stockholders' equity 1.816,000.00 2,331,000.00 2.473,000.00 2,988,000.00 $3,275,500.00 $3,881.000.00 Swasey Company eBook IN Show Me How Calculator Statement of Cash Flows Instructions Amount Descriptions Statement of Cash Flows Concluding Qu Instructions Swasey Company Income Statement For the Year Ended December 31, 20x2 1 Revenues $3,003,000.00 90,000.00 2 Gain on sale of equipment 3 Cost of goods sold 4 Depreciation expense (1.914,000.00) (270,000.00) (8,500.00) 5900,500.00 5 Interest expense 6 Net income Statement of Cash Flows Instructions Amount Descriptions Statement of Cash Flows Concluding Question Instructions Depreciation expense (270,000.00) 5 Interest expense (8.500.00) & Net income 5900,500.00 During the year, Swasey Company sold equipment with a book value of $285,000 for $375,000 (original purchase cost of $465,000). New equipment was purchased Required: 1. Prepare a statement of cash flows for Swasey for 20x2 2. Reflect on the relationship between the statement of cash flows and the change in cash