Presented below are the financial statements of Sheridan Company Sheridan Company Comparative Balance Sheets December 31 2017 2016 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total $77,700 $44,400 31,080 44,400 44,400 62,160 133,200 173,160 (71,040) (53,280) $246,420 $239,760 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $42,180 $33,300 17,760 37,740 73,260 39,96031,080 84,360 $246,420 $239,760 15,540 111,000 Sheridan Company Income Statement For the Year Ended December 31,2017 $537,.240 388,500 148,740 Sales revenue Cost of goods sold Gross proft Selling expenses Administrative expenses13,320 Income from operations Interest expense Income before income taxes Income tax expense Net income $39,960 13,320 53,280 95,460 6,660 88,800 17,760 $71,040 Additional data: 1. Depreciation expense was $38,850. 2. Dividends declared and paid were $44,400 3. During the year equipment was sold for $18,870 cash. This equipment cost $39,960 originally and had accumulated depreciation of $21,090 at the time of sale. Prepare a statement of cash flows 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 Statement of Cash Flows Adjustments to reconcile net income to