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Presented here are the financial statements of Sheridan Company. Additional data: 1. Depreciation expense was $16,100. 2. Dividends declared and paid were $23,700. 3. During
Presented here are the financial statements of Sheridan Company. Additional data: 1. Depreciation expense was $16,100. 2. Dividends declared and paid were $23,700. 3. During the year equipment was sold for $8,600 cash. This equipment cost $18,700 originally and had accumulated depreciation of $10,100 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a- sign eg. -15,000 or in parenthesis e.g. (15,000).) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with elther a-sign eg. - 15,000 or in parenthesis e.g. (15,000).) Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Redemption of Bonds Payment of Dividends Issuance of Common Stock Net Cash Used by Financing Activities Net Increase in Cash Cash Flows from Financing Activities Redemption of Bonds Payment of Dividends Issuance of Common Stock Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period $
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