Condensed financial data ofSheridanCompany for 2017 and 2016 are presented below.

SHERIDANCOMPANY

COMPARATIVE BALANCE SHEET

AS OF DECEMBER 31, 2017 AND 2016

2017

2016

Cash$1,790

$1,170

Receivables1,780

1,310

Inventory1,580

1,900

Plant assets1,900

1,720

Accumulated depreciation(1,180

)(1,140

)Long-term investments (held-to-maturity)1,310

1,420

$7,180

$6,380

Accounts payable$1,220

$880

Accrued liabilities210

240

Bonds payable1,380

1,550

Common stock1,930

1,660

Retained earnings2,440

2,050

$7,180

$6,380

SHERIDANCOMPANY

INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31, 2017

Sales revenue$6,690

Cost of goods sold4,650

Gross margin2,040

Selling and administrative expenses930

Income from operations1,110

Other revenues and gainsGain on sale of investments90

Income before tax1,200

Income tax expense550

Net income650Cash dividends

260

Income retained in the business

$390

Additional information:

During the year, $70of common stock was issued in exchange for plant assets. No plant assets were sold in 2017.

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).)

SHERIDANCOMPANY

Statement of Cash Flows

choose the accounting period

December 31, 2017

For the Year Ended December 31, 2017

For the Quarter Ended December 31, 2017

(Indirect Method)

select an opening name for section one

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

select an item

Redemption of Bonds Payable

Purchase of Plant Assets

Depreciation Expense

Increase in Inventory

Payment of Cash Dividends

Increase in Accounts Payable

Loss on Sale of Investments

Issuance of Capital Stock

Sale of Investments

Net Income

The decrease in Accrued Liabilities

Issuance of Common Stock for Plant Assets

Increase in Accounts Receivable

Gain on Sale of Investments

The decrease in Accounts Payable

The decrease in Accounts Receivable

Increase in Accrued Liabilities

Decrease in Inventory

$

enter a dollar amount

Adjustments to reconcile net income to

select a subsection name

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

select an item

Depreciation Expense

Loss on Sale of Investments

Payment of Cash Dividends

Redemption of Common stock

Issuance of Capital Stock

Purchase of Plant Assets

Sale of Plant Assets

Decrease in Inventory

The decrease in Accounts Payable

Redemption of Bonds Payable

The decrease in Accounts Receivable

Purchase of Held-to-Maturity Investments

Issuance of Common Stock for Plant Assets

Sale of Bonds Payable

Gain on Sale of Investments

Sale of Investments

Increase in Accounts Payable

Increase in Accrued Liabilities

Increase in Accounts Receivable

Increase in Inventory

Net Income

The decrease in Accrued Liabilities

$

enter a dollar amount

select an item

Increase in Accrued Liabilities

Purchase of Plant Assets

Payment of Cash Dividends

Sale of Bonds Payable

Redemption of Common stock

Decreas e in Accounts Payable

Gain on Sale of Investments

Sale of Investments

Increase in Inventory

Issuance of Capital Stock

Decrease in Inventory

Sale of Plant Assets

Purchase of Held-to-Maturity Investments

Decree use in Accrued Liabilities

Net Income

Issuance of Common Stock for Plant Assets

Increase in Accounts Receivable

Increase in Accounts Payable

Dec rease in Accounts Receivable

Depreciation Expense

Loss on Sale of Investments

Redemption of Bonds Payable

enter a dollar amount

select an item

Purchase of Held-to-Maturity Investments

Increase in Accounts Payable

Increase in Inventory

Increase in Accounts Receivable

Decrease in Inventory

Payment of Cash Dividends

The decrease in Accounts Receivable

Sale of Bonds Payable

Issuance of Capital Stock

Depreciation Expense

Redemption of Bonds Payable

Redemption of Common stock

The decrease in Accounts Payable

Sale of Investments

Loss on Sale of Investments

Net Income

Gain on Sale of Investments

Increase in Accrued Liabilities

The decrease in Accrued Liabilities

Purchase of Plant Assets

Issuance of Common Stock for Plant Assets

Sale of Plant Assets

enter a dollar amount

select an item

Sale of Plant Assets

Issuance of Common Stock for Plant Assets

Redemption of Bonds Payable

Increase in Accounts Receivable

Net Income

The decrease in Accounts Receivable

Increase in Inventory

Sale of Investments

Increase in Accounts Payable

Purchase of Held-to-Maturity Investments

Sale of Bonds Payable

The decrease in Accounts Payable

Gain on Sale of Investments

Increase in Accrued Liabilities

Redemption of Common stock

Decrease in Inventory

Issuance of Capital Stock

Purchase of Plant Assets

Depreciation Expense

Loss on Sale of Investments

A decrease in Accrued Liabilities

Payment of Cash Dividends

enter a dollar amount

select an item

Loss on Sale of Investments

Purchase of Plant Assets

Depreciation Expense

Issuance of Capital Stock

Issuance of Common Stock for Plant Assets

Sale of Plant Assets

Increase in Inventory

Gain on Sale of Investments

Redemption of Common stock

Payment of Cash Dividends

Decrease in Inventory

Redemption of Bonds Payable

Sale of Bonds Payable

A decrease in Accounts Receivable

Increase in Accounts Payable

Net Income

The decrease in Accrued Liabilities

Increase in Accounts Receivable

Sale of Investments

Increase in Accrued Liabilities

The decrease in Accounts Payable

Purchase of Held-to-Maturity Investments

enter a dollar amount

select an item

Redemption of Common stock

Purchase of Held-to-Maturity Investments

Issuance of Capital Stock

The decrease in Accounts Payable

Increase in Accrued Liabilities

Gain on Sale of Investments

Sale of Plant Assets

Sale of Investments

Increase in Inventory

Payment of Cash Dividends

Loss on Sale of Investments

Decrease in Inventory

Increase in Accounts Payable

The decrease in Accounts Receivable

Increase in Accounts Receivable

Issuance of Common Stock for Plant Assets

Purchase of Plant Assets

Sale of Bonds Payable

Redemption of Bonds Payable

Net Income

Depreciation Expense

The decrease in Accrued Liabilities

enter a dollar amount

enter a subtotal of the adjustments

select a closing name for section one

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

enter a total amount for section one

select an opening name for section two

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

select an item

Sale of Plant Assets

Gain on Sale of Investments

Sale of Bonds Payable

Decrease in Inventory

Issuance of Capital Stock

Purchase of Plant Assets

Increase in Inventory

Depreciation Expense

Purchase of Held-to-Maturity Investments

Payment of Cash Dividends

Loss on Sale of Investments

Increase in Accrued Liabilities

Increase in Accounts Payable

Redemption of Common stock

Redemption of Bonds Payable

Net Income

Issuance of Common Stock for Plant Assets

Sale of Investments

The decrease in Accounts Receivable

A decrease in Accounts Payable

The decrease in Accrued Liabilities

Increase in Accounts Receivable

enter a dollar amount

select an item

Redemption of Bonds Payable

Loss on Sale of Investments

Increase in Accounts Payable

Redemption of Common stock

Gain on Sale of Investments

Purchase of Held-to-Maturity Investments

The decrease in Accounts Payable

The decrease in Accrued Liabilities

Increase in Accounts Receivable

Issuance of Common Stock for Plant Assets

Sale of Bonds Payable

Purchase of Plant Assets

Increase in Inventory

Net Income

Issuance of Capital Stock

Payment of Cash Dividends

Increase in Accrued Liabilities

Sale of Plant Assets

Depreciation Expense

Sale of Investments

Decrease in Inventory

The decrease in Accounts Receivable

enter a dollar amount

select a closing name for section two

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

enter a total amount for section two

select an opening name for section three

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

select an item

Increase in Accrued Liabilities

Increase in Accounts Receivable

Sale of Bonds Payable

Sale of Investments

Redemption of Bonds Payable

The decrease in Accounts Receivable

Decrease in Inventory

Loss on Sale of Investments

Payment of Cash Dividends

Net Income

Issuance of Capital Stock

Increase in Accounts Payable

The decrease in Accrued Liabilities

Increase in Inventory

Issuance of Common Stock for Plant Assets

Gain on Sale of Investments

Purchase of Plant Assets

Sale of Plant Assets

The decrease in Accounts Payable

Purchase of Held-to-Maturity Investments

Depreciation Expense

Redemption of Common stock

enter a dollar amount

select an item

Gain on Sale of Investments

Depreciation Expense

Increase in Accrued Liabilities

Redemption of Bonds Payable

Purchase of Plant Assets

Sale of Bonds Payable

Increase in Accounts Receivable

Purchase of Held-to-Maturity Investments

The decrease in Accounts Receivable

Loss on Sale of Investments

Redemption of Common stock

The decrease in Accrued Liabilities

Increase in Accounts Payable

Net Income

Decrease in Inventory

The decrease in Accounts Payable

Sale of Plant Assets

Issuance of Capital Stock

Payment of Cash Dividends

Increase in Inventory

Issuance of Common Stock for Plant Assets

Sale of Investments

enter a dollar amount

select an item

Net Income

The decrease in Accounts Payable

Sale of Plant Assets

Gain on Sale of Investments

Sale of Investments

Loss on Sale of Investments

Decrease in Inventory

Redemption of Common stock

Decrease in Accounts Receivable

Purchase of Held-to-Maturity Investments

Decrease in Accrued Liabilities

Issuance of Capital Stock

Increase in Accounts Receivable

Purchase of Plant Assets

Issuance of Common Stock for Plant Assets

Increase in Accrued Liabilities

Depreciation Expense

Increase in Accounts Payable

Increase in Inventory

Redemption of Bonds Payable

Payment of Cash Dividends

Sale of Bonds Payable

enter a dollar amount

select a closing name for section three

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

enter a total amount for section three

select an item

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

enter a total amount for three sections

select an item

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

enter a dollar amount

select a closing name for this statement

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

$

enter a total of the two previous amounts

select an opening name for additional section

Cash at Beginning of Period

Cash at End of Period

Cash Flows from Financing Activities

Cash Flows from Investing Activities

Cash Flows from Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Operating Activities

Net Decrease in Cash

Net Increase in Cash

Noncash Investing and Financing Activities

select an item

Depreciation Expense

Decrease in Accrued Liabilities

Increase in Inventory

Purchase of Plant Assets

Decrease in Accounts Payable

Redemption of Bonds Payable

Increase in Accounts Receivable

Increase in Accounts Payable

Payment of Cash Dividends

Issuance of Capital Stock

Increase in Accrued Liabilities

Gain on Sale of Investments

Decrease in Accounts Receivable

Loss on Sale of Investments

Decrease in Inventory

Sale of Investments

Issuance of Common Stock for Plant Assets

Net Income

$

enter a dollar amount