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Swanton Corporation formats operating cash flows using the indirect method. BE: (Click the icon to view the income statement.) (Click the icon to view the
Swanton Corporation formats operating cash flows using the indirect method. BE: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Swanton's net cash flow from financing activities for 2018 was (assume no stock dividends were distributed) O A. net cash used of $73,000. OB. net cash used of $52,500. OC. net cash used of $54,500. OD. net cash provided of $12,000. i Data Table Swanton's Income Statement for 2018 $ Sales revenue 222,000 Gain on sale of equipment Cost of goods sold Depreciation $ 215,000 7,000 + $ 124,000 8,500 26,000 Other operating expenses 158,500 63,500 Net income * The book value of equipment sold during 2018 was $23,000. Print Done i Data Table 2018 5,500 $ $ Cash Accounts receivable Inventory Swanton's Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 $ 7,500 $ 5,500 Accounts payable 15,000 Accrued liabilities 11,000 10,000 Common stock 85,000 69,000 Retained earnings $ 113,000 $ 99,500 9,500 10,000 2017 6,500 6,500 12,000 74,500 99,500 24,000 73,500 Plant and equipment, net $ 113,000 $ Print Done
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