Cash Flows from Financing ActivitiesSwasey Company earned net income of $1,800,000 in 20X2. Swasey provided the following information: Swasey Company Comparative Balance Sheets At December 31, 20X1 and 20X2 20X1 20X2 Bonds payable $ — $770,000 Mortgage payable 200,000 — Common stock 750,000 750,000 Pain-in capital in excess of par 560,000 560,000 Retained earnings 3,650,000 4,650,000 Required:Compute the financing cash flows for the current year. Use a minus sign to indicate a cash outflow.$fill in the blank 1

Cash Flows from Financing Activities Swasey Company earned net income of $1,800,000 in 20X2. Swasey provided the following information: Swasey Company Comparative Balance Sheets At December 31, 20X1...

Cash Flows from Financing Activities

Swasey Company earned net income of $1,800,000 in 20X2. Swasey provided the following information:

Swasey Company
Comparative Balance Sheets
At December 31, 20X1 and 20X2
	20X1	20X2
Bonds payable	$ —	$770,000
Mortgage payable	200,000	—
Common stock	750,000	750,000
Pain-in capital in excess of par	560,000	560,000
Retained earnings	3,650,000	4,650,000

Required:

Compute the financing cash flows for the current year. Use a minus sign to indicate a cash outflow.
$fill in the blank 1

Jun 11, 2022