The following three accounts appear in the general ledger of Swifty Corporation during 2022.

Equipment
Date					Debit		Credit		Balance
Jan.	1		Balance						160,000
July	31		Purchase of equipment		71,900				231,900
Sept.	2		Cost of equipment constructed		55,000				286,900
Nov.	10		Cost of equipment sold				48,200		238,700
Accumulated DepreciationEquipment
Date					Debit		Credit		Balance
Jan.	1		Balance						70,100
Nov.	10		Accumulated depreciation on equipment sold		16,700				53,400
Dec.	31		Depreciation for year				25,000		78,400
Retained Earnings
Date					Debit		Credit		Balance
Jan.	1		Balance						105,200
Aug.	23		Dividends (cash)		18,900				86,300
Dec.	31		Net income				66,100		152,400

From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of plant assets was $8,700. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $55,000.) (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Swifty Corporation Partial Statement of Cash Flows Choose the accounting period For the Year Ended December 31, 2022For the Month Ended December 31, 2022December 31, 2022
Select an opening name for section one Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select a cashflow item Sale of EquipmentLoss on Disposal of Plant AssetsDecrease in Accounts PayableNet IncomeDepreciation ExpenseConstruction of EquipmentPurchase of EquipmentIncrease in Accounts ReceivablePayment of Cash Dividends		$Enter a dollar amount
Adjustments to reconcile net income to
Select an opening subsection name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select a cashflow item Sale of EquipmentConstruction of EquipmentLoss on Disposal of Plant AssetsPurchase of EquipmentPayment of Cash DividendsNet IncomeIncrease in Accounts ReceivableDecrease in Accounts PayableDepreciation Expense	$Enter a dollar amount
Select a cashflow item Sale of EquipmentDecrease in Accounts PayablePayment of Cash DividendsIncrease in Accounts ReceivableNet IncomeDepreciation ExpenseConstruction of EquipmentLoss on Disposal of Plant AssetsPurchase of Equipment	Enter a dollar amount
		enter a total amount of the adjustments
Select a closing name for section one Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash		Enter a total amount for section one
Select an opening name for section two Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select a cashflow item Decrease in Accounts PayableLoss on Disposal of Plant AssetsNet IncomePayment of Cash DividendsSale of EquipmentDepreciation ExpenseConstruction of EquipmentIncrease in Accounts ReceivablePurchase of Equipment	Enter a dollar amount
Select a cashflow item Loss on Disposal of Plant AssetsNet IncomeConstruction of EquipmentPurchase of EquipmentDepreciation ExpenseDecrease in Accounts PayableIncrease in Accounts ReceivableSale of EquipmentPayment of Cash Dividends	Enter a dollar amount
Select a cashflow item Construction of EquipmentDecrease in Accounts PayableDepreciation ExpensePayment of Cash DividendsLoss on Disposal of Plant AssetsPurchase of EquipmentIncrease in Accounts ReceivableSale of EquipmentNet Income	Enter a dollar amount
Select a closing name for section two Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash		Enter a total amount for section two
Select an opening name for section three Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select a cashflow item Net IncomeDepreciation ExpenseLoss on Disposal of Plant AssetsSale of EquipmentPurchase of EquipmentConstruction of EquipmentPayment of Cash DividendsIncrease in Accounts ReceivableDecrease in Accounts Payable		Enter a dollar amount

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