Your answer is partially correct. The 2022 accounting records of Swifty Transport provide the following information. Payment of interest $10,500 Payment of salaries and wages $56,800 Cash sales 50,300 Depreciation expense 16,200 Receipt of dividend revenue 18,000 Proceeds from sale of vehicles 811,600 Payment of income taxes 16,300 Purchase of equipment for cash 22,600 Net income 37,600 Loss on sale of vehicles 3.000 Payment for merchandise 97,500 Payment of dividends 13,900 Payment for land 73,300 Payment of operating expenses 27,400 Collection of accounts receivable 195,000 Prepare the cash flows from operating activities section using the direct method. SWIFTY Transport Statement of Cash Flows-Direct Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Cash receipts from Net Income 50300 195000 $ 24530 Less 4 cash payments: To Suppliers for Merchandise 97500 i For Salaries and Wages - 56800 i For Operating Expenses 27400 For Income Taxes 16300 i 19800 $ 4730 Your answer is partially correct. The 2022 accounting records of Swifty Transport provide the following information. Payment of interest $10,500 Payment of salaries and wages $56,800 Cash sales 50,300 Depreciation expense 16,200 Receipt of dividend revenue 18,000 Proceeds from sale of vehicles 811,600 Payment of income taxes 16,300 Purchase of equipment for cash 22,600 Net income 37,600 Loss on sale of vehicles 3,000 Payment for merchandise 97,500 Payment of dividends 13,900 Payment for land 73,300 Payment of operating expenses 27,400 Collection of accounts receivable 195,000 Prepare the cash flows from operating activities section using the direct method. SWIFTY Transport Statement of Cash Flows-Direct Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Cash receipts from Net Income $ 50300 195000 $ 24530 Less cash payments: To Suppliers for Merchandise 97500 i For Salaries and Wages 56800 For Operating Expenses 27400 i For Income Taxes 16300 i For Interest 19800 Loss on Disposal of Vehicles For Income Taxes $ 4730 Proceeds from Disposal of Plant Assets Dividend Revenue To Suppliers for Merchandise For Payment of Dividends Attempts: 1 of 5 used Submit Answer Customers For Salaries and Wages Purchase of Equipment for Cash For Land For Operating Expenses Net Income Depreciation Expense