Your answer is partially correct. The following are comparative balance sheets for Swifty Company. Swifty Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $73,500 $33,500 Accounts receivable 85,800 70,600 Inventory 169,700 186,700 Land 73,300 101,800 Equipment 259,000 199,400 Accumulated depreciation-equipment (65,800) (33,800) Total $595,500 $558,200 Liabilities and Stockholders' Equity Accounts payable $35,500 $46,500 Bonds payable 151,400 203,800 Common stock ($1 par) 217,000 172,700 Retained earnings 191,600 135,200 Total $595,500 $558,200 Additional information: 1. Net income for 2022 was $103,400. 2. Depreciation expense was $32,000. 2 Cach dividends of $47.000 We declare Question 6 of 7 < > Additional information: 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 amounting to $52,400 were redeemed for cash $52,400. 5. Common stock was issued for $44,300 cash. 6. No equipment was sold during 2022. 7. Land was sold for its book value. 7.11/10 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).) Cash Flows from Operating Activities Net Income Swifty Company Statement of Cash Flows For the Year Ended December 31, 2022 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense Increase in Accounts Receivable Decrease in Inventory Decrease in Accounts Payable Net Cash Provided by Operating Activities $ 32000 15200 17000 11000 103400 22800 126200 Increase in Accounts Receivable 15200 Decrease in Inventory Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Land Purchase of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Common Stock Redemption of Bonds Payment of Cash Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period eTextbook and Media 17000 11000 28500 59600 44300 52400 47000 22800 126200 88100 55100 Attomante 1 of Auced