Current Attempt in Progress Here are comparative balance sheets for Sheridan Company. Prepare a statement of cash flows-indirect method. Additional information: 1. Net income for 2020 was $97,000. 2. Cash dividends of $6,000 were declared and paid. 3. Bonds payable amounting to $63,000 were redeemed for cash $63,000. 4. Common stock was issued for $36,000 cash. 5. Equipment that cost $50,000 and had a book value of $27,000 was sold for $35,000 during 2020 ; land was sold at cost. Question 18 of 20 /5 Cash Flows from Operating Activities Cash Flows from Investing Activities Sale of Land Purchase of Equipment Purchase of Equipment Cash Flows from Financing Activities For the Year Ended December 31, 2020 Net Cash Provided by Operating Activities Net Income $ 97,000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities ^ Depreciation Expense Sale of Land Decrease in Inventory Decrease in Accounts Receivable Decrease in Accounts Payable Cash Flows from Operating Activities Cash Flows from Investing Activities Sale of Land Purchase of Equipment Purchase of Equipment Cash Flows from Financing Activities Cash Flows from Financing Activities $ SUPPORT