Swifty Corporation Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 57,120 42,000 $ 37,800 48,720 127,218 119,280 17,640 109,200 Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total 168,000 12,835 121,800 168,000 (50,400) 189,000 (37,800) (33,600 ) 130,200 (29,400) $567,840 $629,773 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $ 37,573 252,000 168,000 172,200 $ 30,240 252,000 134,400 151,200 $567,840 $629,773 Additional information: 1. 2. 3. Operating expenses include depreciation expense of $35,280 ($16,800 of depreciation expense for buildings and $18,480 for equipment). Land was sold for cash at book value. Cash dividends of $10,080 were paid. Net income for 2022 was $31,080. Equipment was purchased for $77,280 cash. In addition, equipment costing $18,480 with a book value of $8,400 was sold for $6,720 cash. 33,600 shares of $1 par value common stock were issued in exchange for land with a fair value of $33,600. 4. 5. 6. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Swifty Corporation Statement of Cash Flows $ Adjustments to reconcile net income to $ A A > >