Current Attempt in Progress A comparative balance sheet for Swifty Corporation is presented below. SWIFTY CORPORATION Comparative Balance Sheet Assets 2020 2019 Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets $40,500 $32,500 72,250 61,500 27,250 18,500 19,500 46,750 71,500 61,500 (22,250) (14,500) $208,750 $206,250 Liabilities and Stockholders' Equity Accounts payable $13,250 $7,500 Bonds payable 28,500 20,500 Common stock 144,500 116,500 Retained earnings 22,500 61,750 Total liabilities and stockholders' equity $208,750 $206,250 Additional information: 1. Net loss for 2020 is $23,750. 2 Cash dividends of $15,500 were declared and paid in 2020, 3. Land was sold for cash at a loss of $5,500. This was the only land transaction during the year. 4. Equipment with a cost of $18,000 and accumulated depreciation of $11,500 was sold for $6,500 cash. 5. $23,500 of bonds were retired during the year at carrying (book) value. 9 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $28,000. 2 Cad of S 1500 Th 3 $23.500 WTY CORPORATION Statement of Cash Flows >> > > > > > < < < < > > > > > > >>