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Your answer is partially correct. Swifty Company's income statement contained the following condensed information. SWIFTY COMPANY Income Statement For the Year Ended December 31, 2022
Your answer is partially correct. Swifty Company's income statement contained the following condensed information. SWIFTY COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue $970,600 Operating expenses, excluding depreciation $$623,900 Depreciation expense 55,000 Loss on disposal of plant assets Income before income taxes Income tax expense 24,000quad702,900 Net income 267,700 39,800 $227,900 Swifty's balance sheets contained the following comparative data at December 31. 2022 2021 Accounts receivable $74,800 $60,600 Accounts payable 41,300 27,800 Income taxes payable 12,100 6,100 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show a
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