Current Attempt in Progress Sheridan Limited is a private company reporting under ASPE. Its comparative balance sheet at December 31 is as follows: SHERIDAN LIMITED Balance Sheet December 31 Assets Cash 2024 2023 $123,120 $91,800 Accounts receivable 810,000 648,000 Inventory 540,000 356,400 Prepaid insurance 19,440 27,000 Equipment 1,350,000 1,080,000 Accumulated depreciation (378,000) (302,400) Total assets $2,464,560 $1,900,800 Liabilities and Shareholders' Equity $1,700,00U Accounts payable $244,080 $216,000 Salaries payable 32,400 43,200 Interest payable 28,080 21,600 Notes payable 540,000 378,000 Common shares 648,000 432,000 Retained earnings 972,000 810,000 Total liabilities and shareholders' equity $2,464,560 $1,900,800 Additional information: 1. Profit for 2024 was $216,000. 2. Equipment was purchased during the year. No equipment was sold. 3. Cash dividends were paid to the common shareholders during the year. uestion 2 of / -/1 Prepare the cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis eg. (15,000).) SHERIDAN LIMITED Cash Flow Statement-Indirect Method Adjustments to reconcile profit to S < < > < S S