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	687,000.00
4	Inventories	295,000.00	325,000.00
5	Current liabilities
6	Wages payable	695,000.00	680,000.00

Swasey Company

Income Statement

For the Year Ended December 31, 20X2

1	Revenues	3,440,000.00
2	Gain on sale of equipment	90,000.00
3	Cost of goods sold	(1,930,000.00)
4	Depreciation expense	(280,000.00)
5	Interest expense	(20,000.00)
6	Net income	$1,300,000.00

	Required:
	Compute operating cash flows using the indirect method.

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 wording of the answer choices for text entries.)

Swasey Company

Statement of Cash Flows

Year Ending December 31, 20X2

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2	Add (deduct) adjusting items:
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