Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso. Trenholm. Irvine, and Burnlev PRINTER VERSION BACK NEXT Brief Exercise 13-5 The comparative statement of financial position for Sheridan Corporation shows the following noncash current asset and liability accounts at March 31: 2018 2017 Accounts receivable $68,000 $40,000 Inventory 78,000 61,000 Accounts payable 34,500 45,000 Dividends payable 1,200 2,200 Sheridan's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $70,000, and a loss on the disposal of land was $10,000. Sheridan uses a perpetual inventory system. Calculate net cash provided (used) by operating activities 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 CORPORATION Statement of Cash Flows (Partial)-Indirect Method Operating activities Adjustments to reconcile net income to LINK TO TEXT