Condensed financial data of Sheridan Inc. follow. SHERIDAN INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $107,500 $47,700 Accounts receivable 91,400 33,900 Inventory 112,200 102,200 Prepaid expenses 29,100 25,400 Long-term investments 140,700 114,600 Plant assets 275,200 241,200 Accumulated depreciation (47,500) (52,900) Total $708,600 $512,100 Liabilities and Stockholders' Equity Accounts payable $112,000 $67,500 Accrued expenses payable 16,000 17,100 Bonds payable 111,300 149,900 Common stock 219,700 174,800 Retained earnings 249,600 102,800 Total $708,600 $512,100 SHERIDAN INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $392,200 Less: Cost of goods sold $135,000 Operating expenses, excluding depreciation 13,000 Depreciation expense 29,800 Income tax expense 26,300 Interest expense 4,300 Loss on disposal of plant assets 7,500 215,900 Net income $176,300 Additional information: Additional information: 1. New plant assets costing $79,700 were purchased for cash during the year. 2. Old plant assets having an original cost of $45,700 and accumulated depreciation of $35,200 were sold for $3,000 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $29,500 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SHERIDAN INC. Statement of Cash Flows $ Adjustments to reconcile net income to