CALCULATOR FULL SCREEN PRINTER VERSION Problem 5-7 Sheridan Inc. had the following balance sheet at December 31, 2016, Cash Accounts receivable Investments Plant assets (net) Land SHERIDAN INC. BALANCE SHEET DECEMBER 31, 2016 $ 25,180 Accounts payable 26,380 Bonds payable 32,000 Common stock 86,180 Retained earnings 45,180 $214,920 $ 35,180 46.180 105,180 29,380 $214,920 During 2017, the following occurred. 1. Sheridan liquidated its available for sale investment portfolio at a loss of $10,180. 2 A tract of land was purchased for $43,180. 3. An additional $30,000 in common stock was issued at par. 4. Dividends totaling $15.180 were declared and paid to stockholders 5. Net income for 2017 was $40.180, including $17.180 in depreciation expense. 6. Land was purchased through the issuance of $95.180 in additional bonds 7 At December 31, 2017, Cash was $75,380, Accounts Receivable was 547,180, and Accounts Payable was $45,180. Prepare a statement of cash flows for the year 2017 for Sheridan, (Show amounts that decrease cash flow with either a sign .. 15,000 or in parenthesis (15,000) 2000 2021 6. 80, including $17,180 in depreciation expense. Land was purchased through the issuance of $35,180 in additional bonds. At December 31, 2017, Cash was $75,380, Accounts Receivable was $47,180, and Accounts Payable was $45,180 7. Prepare a statement of cash flows for the year 2017 for Sheridan, (Show amounts that decrease cash flow with either a slon 15,000 or in parenthesis e.o. (15.000)) SHERIDAN INC. Statement of Cash Flows Adjustments to reconcie net income to me as provided by operating activities: $ CALCULATOR FULL SCREEN PRINTER VERSION BACK Es NEXT abilities and Stockholders' Equity Computer Sheridan's free cath tow and current cash debt coverage for 2017. (Round current cather coverage to decimal place 0.56. Show amounts that decrease cash flow with either a sign 15.000 or parenthesk (15000)) Free cash flow Current cash debt coverage Click if you would like to Show Work for this question: Compute Sheridan's free cash flow and current cash debt coverage for 2017. (Round current cash debt coverage to 2 decimal places, e.g. 0.56. Show amounts that decrease cash flow with other a-sign e.g.-15.000 or in parenthesis ed. (15.000).) Free cash flow Current cash debt coverage Click if you would like to show Work for this question: Open Show Work