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Exercise 12-5 The current sections of Sheridan Company's balance sheets at December 31, 2018 and 2019, are presented here. Sheridan's net income for 2019 was
Exercise 12-5 The current sections of Sheridan Company's balance sheets at December 31, 2018 and 2019, are presented here. Sheridan's net income for 2019 was $152,700. Depreciation expense was $24,300. 2019 2018 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $107,100 109,200 157,800 26,100 $400,200 $95,300 78,300 171,100 25,300 $370,000 . $15,300 84,700 $100,000 $9,900 95,300 $105,200 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2019, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sheridan Company Partial Statement of Cash Flows Adjustments to reconcile net income to Click if you would like to Show Work for this question: Open Show Work
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