Swifty Inc provided the following information: - Swifty pays for 40% of merchandise purchases in the month of the purchase and 60% in the following month. - Generat operating expenses are budgeted to be $30,500 per month of which depreciation is $3,500 of this amount. Swifty pays operating expenses in the month incurred. - Swifty makes loan payments of $6,000 per month of which $550 is interest and the remainder is principal