Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Compa

Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets DecSwifty Corporation Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $298,000Swifty Corporation Worksheet-Statement of Cash Flows Reconciling Items Balance 12/31/18 Debit Balance Sheet Accounts Debits CCredits Accumulated depreciation Equipment Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnStatement of Cash Flow Effects Operating ActivitiesTotals Totals Click if you would like to Show Work for this question: Open Show Work By accessing this question Assistance, y

Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December 31 Assets 2019 Cash $91,000 Accounts receivable 89,900 Inventory 121,000 Investments 84,300 Equipment 249,000 Accumulated depreciation equipment (49,200) $586,000 Liabilities and Stockholders' Equity Accounts payable $57,600 Accrued expenses payable 12,500 Bonds payable 102,000 Common stock 250,000 Retained earnings 163,900 $586,000 2018 $47,300 56,300 102,000 87,500 205,000 (39,900) $458,200 $ 48,200 18,600 69,200 191,000 131,200 $458,200 Swifty Corporation Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $298,000 8,410 306,410 Less: Cost of goods sold Operating expenses (excluding depreciation expense) Depreciation expense Income tax expense Interest expense $98,300 13,100 48,800 7,600 2,500 170,300 $136,110 Net income Additional information: 1. Equipment costing $91,600 was purchased for cash during the year. 2. Investments were sold at cost. 3. Equipment costing $47,600 was sold for $16,510, resulting in gain of $8,410. 4. A cash dividend of $103,410 was declared and paid during the year. Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).) Swifty Corporation Worksheet-Statement of Cash Flows Reconciling Items Balance 12/31/18 Debit Balance Sheet Accounts Debits Credit Balance 12/31/19 Cash Accounts receivable Inventory Investments Equipment Totals Credits Accumulated depreciation Equipment Accounts payable Accrued expenses payable Bonds payable Credits Accumulated depreciation Equipment Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Totals Statement of Cash Flow Effects Operating Activities Statement of Cash Flow Effects Operating Activities Totals Totals Click if you would like to Show Work for this question: Open Show Work By accessing this question Assistance, you will learn while you earn points based on the Point Potential Policy set by your

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