Exercise 12-8 Swifty Corporation's comparative balance sheets are presented below Swifty Corporation Comparative Balance Sheets 2019 2018 Cash Accounts receivable Land Buildings Ac $14,800 10,300 23,500 26,400 70,000 (14,600)(10,400) $112,000 $119,800 21,500 20,300 70,000 cumulated depreciation-buildings Total Accounts payable Common stock Retained earnings 12,200 $28,600 74,000 17,200 $112,000 $119,800 74,400 25,400 Total Additional information: 1. Net income was $22,900. Dividends declared and paid were $14,700 2. No noncash investing and financing activities occurred during 2019 3. The land was sold for cash of $4,500
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