SWIFTY COMPANY Comparative Balance Sheets December 31 Assets 20222021 Cash $37,200 $19.700 Accounts receivable 33,00018,400 Irventory 30,800 20,800 Property. plant, and equipment 60.000 77,600 Accumulated depreciation (29,800) (23,500) Total $131.200 $113.000 Liabilities and Stockholders' Equity Accounts payable $28,300 $16,700 Income taxes payable 7.300 8,500 Bonds payable 26,500 33,900 Common stock 17.700 14,000 Retained earnings 51,400 39,900 Total $131.200 $113,000 Additional data: 1. Depreciation expense was $17.300. 2. Dividends declared and paid were $19,860. 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. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category 4. All sales and inventory purchases are on account. (a) Prepare a statement of cash flows for Swifty Company using the direct method. (Show amounts that decrease cash flow with either o - sign es. 15,000 or in parenthesis e g (15,000)) Prepare a statement of cash flows for Swifty Company using the direct method. (Show amounts that decrease cash flow with elther a - signes. - 15,000 or in parenthesis es (15,000)