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Presented here are the financial statements of Sheridan Company. SHERIDAN COMPANY Additional data: 1. Depreciation expense was $16,200 2. Dividends declared and paid were $21,140.

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Presented here are the financial statements of Sheridan Company. SHERIDAN COMPANY Additional data: 1. Depreciation expense was $16,200 2. Dividends declared and paid were $21,140. 3. During the year, equipment was sold for $7,600 cash. This equipment originally cost $17,700 and had accumulate depreciation of $10,100 at the time of sale. 2. Dividends declared and paid were $21,140. 3. During the year, equipment was sold for $7,600 cash. This equipment originally cost $17,700 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. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign eg. - 15,00 or in parenthesis e.g. (15,000).) Adjustments to reconcile net income to $ Compute free cash flow. (Enter negative amount using cither a negative sign preceding the number eg. 45 or parentheses eg. (45), Free Cash Flow 5

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