Presented here are the financial statements of Swifty Company.

SWIFTY COMPANY Comparative Balance Sheets December 31
Assets		2022			2021
Cash		$37,200			$19,700
Accounts receivable		33,000			18,400
Inventory		30,800			20,800
Property, plant, and equipment		60,000			77,600
Accumulated depreciation		(29,800)			(23,500)
Total		$131,200			$113,000
Liabilities and Stockholders Equity
Accounts payable		$28,300			$ 16,700
Income taxes payable		7,300			8,500
Bonds payable		26,500			33,900
Common stock		17,700			14,000
Retained earnings		51,400			39,900
Total		$131,200			$113,000

SWIFTY COMPANY Income Statement For the Year Ended December 31, 2022
Sales revenue				$241,400
Cost of goods sold				175,800
Gross profit				65,600
Selling expenses		$17,250
Administrative expenses		5,750		23,000
Income from operations				42,600
Interest expense				3,400
Income before income taxes				39,200
Income tax expense				7,840
Net income				$31,360

Additional data:

1.		Depreciation expense was $17,300.
2.		Dividends declared and paid were $19,860.
3.		During the year, equipment was sold for $6,600 cash. This equipment originally cost $17,600 and had accumulated depreciation of $11,000 at the time of sale.
4.		Bonds were redeemed at their carrying value.
5.		Common stock was issued at par for cash.

Further analysis reveals the following.

1.		Accounts payable pertain to merchandise suppliers.
2.		All operating expenses except for depreciation were paid in cash.
3.		All depreciation expense is in the selling expense category.
4.		All sales and inventory purchases are on account.

(a)

Prepare a statement of cash flows for Swifty Company using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

SWIFTY COMPANY Statement of Cash Flows choose the accounting period For the Year Ended December 31, 2022For the Month Ended December 31, 2022December 31, 2022
select an opening name for section one Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
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