Swifty Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 2024 Cash Receivables...

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Swifty Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 2024 Cash Receivables Inventory $1,790 $1,140 1,750 1,290 1,590 1,900 Plant assets 1,920 1,740 Accumulated depreciation (1,170) (1,150) Long-term investments (held-to-maturity) 1,320 1,420 $7,200 $6,340 Accounts payable $1,220 $880 Accrued liabilities 200 250 Bonds payable 1,400 1,530 Common stock 1,940 1,700 Retained earnings 2,440 1,980 $7,200 $6,340 Swifty Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,770 Cost of goods sold 4,660 Gross margin 2,110 Selling and administrative expense 930 Income from operations 1,180 Other revenues and gains Gain on sale of investments Income before tax 1,260 Income tax expense 540 Net income 720 Cash dividends 260 Income retained in business $460 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2025. Swifty Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 2024 Cash Receivables Inventory $1,790 $1,140 1,750 1,290 1,590 1,900 Plant assets 1,920 1,740 Accumulated depreciation (1,170) (1,150) Long-term investments (held-to-maturity) 1,320 1,420 $7,200 $6,340 Accounts payable $1,220 $880 Accrued liabilities 200 250 Bonds payable 1,400 1,530 Common stock 1,940 1,700 Retained earnings 2,440 1,980 $7,200 $6,340 Swifty Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,770 Cost of goods sold 4,660 Gross margin 2,110 Selling and administrative expense 930 Income from operations 1,180 Other revenues and gains Gain on sale of investments Income before tax 1,260 Income tax expense 540 Net income 720 Cash dividends 260 Income retained in business $460 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2025.