Swifty Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Total Buildings Accumulated depreciation-buildings Accounts payable Common stock Retained earnings Total SWIFTY CORPORATION Comparative Balance Sheets December 31 Additional information: 1. 2 3. A 2022 $14,800 21,500 20,300 70,000 (14,600) $112,000 $12,200 74,400 25,400 $112,000 2021 $10,300 23,500 26,400 70,000 (10,400) $119,800 $28,600 69,500 21,700 $119,800 Net income was $22,900. Dividends declared and paid were $19,200. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,500.
Swifty Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Total Buildings Accumulated depreciation-buildings Accounts payable Common stock Retained earnings Total SWIFTY CORPORATION Comparative Balance Sheets December 31 Additional information: 1. 2 3. A 2022 $14,800 21,500 20,300 70,000 (14,600) $112,000 $12,200 74,400 25,400 $112,000 2021 $10,300 23,500 26,400 70,000 (10,400) $119,800 $28,600 69,500 21,700 $119,800 Net income was $22,900. Dividends declared and paid were $19,200. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,500.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
Transcribed Image Text:Swifty Corporation's comparative balance sheets are presented below.
Cash
Accounts receivable
Land
Total
Buildings
Accumulated depreciation-buildings
Accounts payable
Common stock
Retained earnings
Total
SWIFTY CORPORATION
Comparative Balance Sheets
December 31
Additional information:
1.
2
3.
A
2022
$14,800
21,500
20,300
70,000
(14,600)
$112,000
$12,200
74,400
25,400
$112,000
2021
$10,300
23,500
26,400
70,000
(10,400)
$119,800
$28,600
69,500
21,700
$119,800
Net income was $22,900. Dividends declared and paid were $19,200.
No noncash investing and financing activities occurred during 2022.
The land was sold for cash of $4,500.
Transcribed Image Text:Compute free cash flow. (Enter negative amount using either a negative sign preceding the number eg.-45 or parentheses eg (45))
Free cash flow $
11300
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education