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Swifty Inc, a greeting card company that follows ASPE, had the following statements prepared as at December 31,2020 : Additional information: 1. Dividends on common
Swifty Inc, a greeting card company that follows ASPE, had the following statements prepared as at December 31,2020 : Additional information: 1. Dividends on common shares in the amount of $5.000 were declared and paid during 2020 . Dividends paid are treated as finan 2. Depreciation expense is included in operating expenses as is salaries and wages expense of 574.500 3. Equipment with a cost of 542000 that was 70 s depreclated was soid during 2020. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with elther a- signeg. -15,000 or in porenthesis eg (15,000)) Swifty lnc. Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Incomef (Loss) Adjustments to reconcile net income/loss to net cash provided by operating activities
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