Brief Exercise 23-4 Sheridan Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses includes depreciation of $19,000) Net income $204,000 130,000 74,000 46,000 $28,000 The following accounts increased during 2017: Accounts Receivable $11,000, Inventory $12,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Sheridan's 2017 statement of cash flows using the direct method. Sheridan Corporation Statement of Cash Flows Direct Method (Partial), nment Net income $28,000 The following accounts increased during 2017: Accounts Receivable $11,000, Inventory $12,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Sheridan's 2017 statement of cash flows using the direct method. Sheridan Corporation Statement of Cash Flows-Direct Method (Partial), LINK TO TEXT LINK TO TEXT VIDEO: SIMTUAR EXERCISE Question Attempts: 0 of 10 used SAVE FOR LATER SUBMET