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The following are Swifty Corp.'s comparative balance sheet accounts at December 31,2020 and 2019 , with a column showing the increase (decrease) from 2019 to
The following are Swifty Corp.'s comparative balance sheet accounts at December 31,2020 and 2019 , with a column showing the increase (decrease) from 2019 to 2020. Accounts payable $1,007,30029,70079,200396,700$954,20049,70099,500$53,100(20,000)(20,300)396,700 Income taxes payable Dividends payable Lease liabililty Common stock, \$1 par 500,000500,000 Paid-in capital in excess of par-common stock 1,485,2001,485,200 Retained earnings Total liabilities and stockholders' equity Additional information: 1. On December 31, 2019, Swifty acquired 25% of Myers Co.'s common stock for $272,900. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,091,600. Myers reported income of $156,800 for the year ended December 31, 2020. No dividend was paid on Myers's common stock during the year. 2. During 2020, Swifty loaned $296,700 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $48,800, plus interest at 10%, on December 31,2020. 3. On January 2, 2020, Swifty sold equipment costing $59,700, with a carrying amount of $37,600, for $40,300 cash. 4. On December 31, 2020, Swifty entered into a capital lease for an office building. The present value of the annual rental payments is $396,700, which equals the fair value of the building. Swifty made the first rental payment of $59,600 when due on January 2, 2021. 5. Net income for 2020 was $363,100. 6. Swifty declared and paid the following cash dividends for 2020 and 2019. \begin{tabular}{llll} & \multicolumn{1}{c}{2020} & \multicolumn{1}{c}{2019} \\ \cline { 2 - 2 } Declared & December 15, 2020 & & December 15, 2019 \\ Paid & February 28, 2021 & & February 28, 2020 \\ Amount & $79,200 & & $99,500 \end{tabular} Prepare a statement of cash flows for Swifty Corp. for the year ended December 31,2020 , using the indirect method. (Show amounts that derronce onath flow with pither a - siane 1500 or in narenthecis o (150001 )
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