Swifty Corporation compiled the following financial information as of December 31, 2022:Service revenue$848000Common stock179000Equipment247000Operating expenses729000Cash223000Dividends62000Supplies32000Accounts payable119000Accounts receivable90000Retained earnings, 1/1/22450000Swifty's retained earnings on December 31, 2022 are:O $450000.O $32000.O $542000.O $507000.

Net Income = Service revenue - Operating expenses Net Income = $848,000 - $729,000 Net Income =…

Swifty Corporation compiled the following financial information as of December 31, 2022: Service revenue $848000 Common stock 179000 Equipment 247000 Operating expenses 729000 Cash 223000 Dividends 62000 Supplies Accounts payable 32000 119000 Accounts receivable 90000 Retained earnings, 1/1/22 450000 Swifty's retained earnings on December 31, 2022 are: O $450000. O $32000. O $542000. O $507000.

Swifty Corporation compiled the following financial information as of December 31, 2022: Service revenue $848000 Common stock 179000 Equipment 247000 Operating expenses 729000 Cash 223000 Dividends 62000 Supplies Accounts payable 32000 119000 Accounts receivable 90000 Retained earnings, 1/1/22 450000 Swifty's retained earnings on December 31, 2022 are: O $450000. O $32000. O $542000. O $507000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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