Swifty Inc: a greeting card cornpany, had the following statements prepared as of December 31,2020. Total assets $313,100$293,600 Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable $45,5004,0007,9008,000$39,8006,0003,9009,900 Long-term loans payable 60.60069.500 Commonstock, $10 par 100,000100,000 Contributed capital, common stock Retained earnings Totalliabilities \& stockholders equity $313,10057,100$293,60034,500 SWIFTYINC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $340,975 Cost of goods sold Grossprofit 164,675176,300 Operating expenses Operating income 45,075119,600 \begin{tabular}{l|l} Interest expense & $11,300 \end{tabular} \begin{tabular}{lrrr} Gain on sale of equipment & 2,100 & 9,200 \\ \cline { 2 - 3 } & & & 35,875 \end{tabular} Income tax expense Net income $28,7007,175 Additional information: 1. Dividends in the amount of $6,100 were declared and paid during 2020. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year, 4. Equipment that had a cost of $20,100 and was 70% depreciated was sold during 2020 . Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign eg. - 15, 000 or in parenthesises. (15,000)J) SWIFTY INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities. Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Fxpense Amartication of Copyright \begin{tabular}{|r|} \hline 54570 \\ \hline 4900 \\ \hline \end{tabular} Gainon Sale of Equiprnent (2100) Increase in Accounts Recehable (11500) Decrease in loventories tricrease in Prepuid Rent \begin{tabular}{|rr|} \hline I & (1000) \\ \hline & 5700 \\ \hline \end{tabular} Decrease in lncone Taxes Payable: 1200014000 Net Camh Provided ty Ogerating Artinities Cash Flows from trimation Rctivitios Purdisave al Fquigetere