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The following are comparative balance sheets for Swifty Company The following are comparative balance sheets for Swifty Company. 1. Net income for 2022 was $103,400.
The following are comparative balance sheets for Swifty Company
The following are comparative balance sheets for Swifty Company. 1. Net income for 2022 was $103,400. 2. Depreciation expense was $32,000. 3. Cash dividends of $47,000 were declared and paid. 4. Bonds payable with a carrying value of $52,400 were redeemed for $52,400 cash. 5. Common stock was issued at par for $44,300 cash. 6. No equipment was sold during 2022 . 7. Land was sold for its book value. Prepare a statement of cash flows for 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)Step by Step Solution
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