During 2017, Sheridan Company redeemed $1,600,000 of bonds payable for $1,504,000 cash. Indicate how this transaction would be reported on a statement of cash flows, if at all.

During 2017, Sheridan Company redeemed $1,600,000 of bonds payable for $1,504,000 cash. Indicate how this transaction would be reported on a statement of cash flows, if at all. (Show amounts that decrease cash flow either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sheridan Company Statement of Cash Flows Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Gain on Redemption of Bonds Payable 96000 Cash Flows from Financing Activities Redemption of Bonds Payable 150400