Current Attempt in Progress Sheffield Inc. a greeting card company that follows ASPE, had the following statements prepared as at December 31,2023 : Question 5 of 5 Accounts payable Income tax payable Salaries and wages payable Short-term loans payable Long-term loans paya Common shares Retained earnings \begin{tabular}{|lc|} \hline \multicolumn{2}{|c|}{ Sheffield Inc. Income Statement Year Ended December 31, 2023 } \\ \hline Sales revenue & $342,685 \\ Cost of goods sold & 165,000 \\ Gross margin & 177,685 \\ \hline \end{tabular} Question 5 of 5 Additional information: Dividends on common shares in the amount of $3,000 were declared and paid during 2023 . Dividends p. 1. financing activities. Additional information: Dividends on common shares in the amount of $3,000 were declared and paid during 2023. Dividends paid are treated a 1. financing activities. 2. Depreciation expense is included in operating expenses, as is salaries and wages expense of $71,000. 3. Equipment with a cost of $42,000 that was 70% depreciated was sold during 2023. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a negative sign e 8 . 15,000 or in parenthesis e.g. (15,000). Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a negative sign eg 15,000 or in parenthesis e.g. (15,000). Question 5 of 5 125 Question 5 of 5 $ Sive for Later Attempts: 0 of 1 used