Swasey Company provided the following partial comparative balance sheets and the income statement for 20X2.

Swasey Company

Partial Comparative Balance Sheets

At December 31, 20X1 and 20X2

1 20X1 20X2

2 Current Assets

3 Accounts receivable 745,000.00 677,000.00

4 Inventories 295,000.00 315,000.00

5 Current liabilities

6 Wages payable 705,000.00 680,000.00

Swasey Company

Income Statement

For the Year Ended December 31, 20X2

1 Revenues 3,410,000.00

2 Gain on sale of equipment 100,000.00

3 Cost of goods sold (1,910,000.00)

4 Depreciation expense (260,000.00)

5 Interest expense (10,000.00)

6 Net income $1,330,000.00

Compute operating cash flows using the indirect method. (Note: Use a minus sign to indicate any decreases in cash or cash outflows. Refer to the Amount Descriptions list provided for the exact

Amount Descriptions

Amount Descriptions

Add cost of goods sold

Add interest expense

Decrease in accounts receivable

Decrease in inventories

Decrease in wages payable

Depreciation expense

Gain on sale of equipment

Increase in accounts receivable

Increase in inventories

Increase in wages payable

Less cost of goods sold

Loss on sale of equipment

Net cash from financing activities

Net cash from investing activities

Net cash from operating activities

Net income

Net loss