Exam 3 Abongwa Final Exam Question 3 of 4 < > View Policies -/30 = Current Attempt in Progress Sheridan Company reported net income of $227,000 for 2020. Sheridan sold equipment that cost $92,000 and had a book value of $55,200 for $46,200. The comparative balance sheet shows a decrease in accounts receivable of $17,000 for the year, a $12,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $18,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow with either a sign eg-15.000 or in parenthesis eg. (15,000)) SHERIDAN COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to - Save for Later Last saved 1 minute ago Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. $ Attempts: 0 of 1 used Submit Answer 02:27:21