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Presented here are the financial statements of Swifty Company. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow
Presented here are the financial statements of Swifty Company. 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).) 1. Depreciation expense was $15,900. 2. Dividends declared and paid were $24,620. 3. During the year, equipment was sold for $7,600 cash. This equipment originally cost $17,500 and had accumulated depreciation of $9,900 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash
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