SWIFTY INC. Statements of Financial Position Assets Dec. 31, 2023 Dec. 31, 2022 Increase/Decrease Cash Accounts receivable $61,400 $31,700 $29.700 increase 87.000 46,100 40,900 increase Inventory 108,000 122,000 14,000 decrease Land 162,000 0 162,000 increase Property, plant, and equipment, net 322,000 237,000 85,000 increase Intangible assets-patents 0 21,000 21,000 decrease Total $740,400 $457,800 Liabilities and Shareholders' Equity Accounts payable $64,600 $50,700 13,900 increase Bonds payable 203,000 0 203,000 increase Common shares 282,000 271,000 11,000 increase Retained earnings 190,800 136.100 54,700 increase Total $740,400 $457,800 SWIFTY INC. Income Statement For the Year Ended December 31, 2023 Sales revenue $583,000 Cost of goods sold 301,000 Gross profit 282,000 Salaries and wages expense 150,000 Depreciation expense 32,200 Income before income tax 99,800 Income tax 24,950 Net income $74,850