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president. Here are the financial statements of Swifty company. I'm meeting Help and identifying the statement of cash flows. SWIFTY COMPANY Comparative Balance Sheets December

president. Here are the financial statements of Swifty company. I'm meeting Help and identifying the statement of cash flows. image text in transcribed
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SWIFTY COMPANY Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity AccountspayableIncometaxespayableBondspayableCommonstock$28,3007,30026,50017,700$16,7008,50033,90014,000 Total $131,200$113,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable $28,3007,30026,50017,700$16,7008,50033,90014,000 Common stock \begin{tabular}{rr} 51,400 & 39,900 \\ $131,200 & $113,000 \\ \hline \end{tabular} SWIFTY COMPANY Income Statement For the Year Ended December 31, 2022 Sales revenue $241,400 Cost of goods sold Gross profit 65,600175,800 Selling expenses $17,250 \begin{tabular}{llll} Administrative expenses & 5,750 & 23,000 \\ Income from operations & & \\ \hline \end{tabular} Interest expense Income before income taxes Income tax expense Net income 7,840$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. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e or in parenthesis e.g. (15,000). 5 Adjustments to reconcile net income to. 4. eTextbook and Media Sive for Later Attempts: 0 of 5 used Soland A Awner Compute free cash flow. (Enter negative amount using either a negative sign preceding the number eg. 45 or parentheses eg. (45).) Free Cash Flow $

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