Prepare statement of cash flow for 2022 using indirect method. The following are comparative balance sheets for

 Prepare statement of cash flow for 2022 using indirect method.

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The following are comparative balance sheets for Swifty Company. Assets Cash Accounts receivable Inventory Land Equipment. Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. SWIFTY Company Comparative Balance Sheets December 31 2 3. 4. 5. 6. 7. 2022 $73,500 85,600 169,500 73,300 260,200 (66,200) $595,900 $35,200 151,600 216,600 192,500 $595.900 2021 $32,700 71,100 187,200 100,800 200,600 (33,500) $558,900 $47,300 203,100 175,500 133,000 $558,900 Net income for 2022 was $104,800. Depreciation expense was $32,700. Cash dividends of $45,300 were declared and paid. Bonds payable with a carrying value of $51.500 were redeemed for $51,500 cash. Common stock was issued at par for $41,100 cash No equipment was sold during 2022. Land was sold for its book value. The following are comparative balance sheets for Swifty Company. Assets Cash Accounts receivable Inventory Land Equipment. Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. SWIFTY Company Comparative Balance Sheets December 31 2 3. 4. 5. 6. 7. 2022 $73,500 85,600 169,500 73,300 260,200 (66,200) $595,900 $35,200 151,600 216,600 192,500 $595.900 2021 $32,700 71,100 187,200 100,800 200,600 (33,500) $558,900 $47,300 203,100 175,500 133,000 $558,900 Net income for 2022 was $104,800. Depreciation expense was $32,700. Cash dividends of $45,300 were declared and paid. Bonds payable with a carrying value of $51.500 were redeemed for $51,500 cash. Common stock was issued at par for $41,100 cash No equipment was sold during 2022. Land was sold for its book value.

Answer rating: 100% (QA)

To prepare the statement of cash flows for SWIFTY Company for the year 2022 using the indirect method well need to use the information provided in the ... View the full answer