SWIFTY Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $73,500 $33,500 Accounts receivable 85,800 70,600 Inventory 169.700 186,700 Land 73,300 101,800 Equipment 259,000 199,400 Accumulated depreciation-equipment (65,800) (33,800) Total $595,500 $558,200 Liabilities and Stockholders' Equity Accounts payable $35,500 $46,500 Bonds payable 151,400 203,800 Common stock ($1 par) 217,000 172,700 Retained earnings 191,600 135,200 Total $595,500 $558,200 Additional information: 1. Net income for 2022 was $103,400. 2. Depreciation expense was $32,000. 3. Cash dividends of $47,000 were declared and paid. 4. Bonds payable with a carrying value of $52,400 were redeemed for $52,400 cash. 5. Common stock was issued at par for $44,300 cash. 6. No equipment was sold during 2022. 7. Land was sold for its book value. SWIFTY Company Statement of Cash Flows Adjustments to reconcile net income to