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Presented here are the financial statements of Sheridan Company. Additional data: 1. Depreciation expense was $15,800. 2. Dividends declared and paid were $24,780. 3. During

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Presented here are the financial statements of Sheridan Company. Additional data: 1. Depreciation expense was $15,800. 2. Dividends declared and paid were $24,780. 3. During the year, equipment was sold for $8,600 cash. This equipment originally cost $18,300 and had accumulated depreciation of $9,700 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free Cash Flow $

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