Question 2 of 10 0.88/1 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The following information is available for Sheffield Corp. for 2022. $ 148,629 Cash used to purchase treasury stock Cash dividends paid Cash paid for interest 67,362 69,216 Net income 1,434,687 Sales revenue 2,478,180 Cash paid for taxes 305,910 Cash received from customers 1,749,249 Cash received from sale of building (at book value) 610,584 237,930 Cash paid for operating expenses Beginning cash balance Cash paid for goods and services 33,990 862,419 Cash received from issuing common stock 1,096,950 618,000 Cash paid to redeem bonds at maturity Cash paid to purchase equipment 349,788 Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a - signe.g.-15,000 or in parenthesis e.g. (15,000).) Sheffield Corp. Statement of Cash Flows Direct Method For the Year Ended December 31, 2022 Cash Flows from Operating Acelvitles Cash Payments $ 1434687 Less : For Operating Expenses For Goods and Services 862419 i For Operating Expenses 237930 1 For Interest 69216 1 For Income Taxes 305910 1 1475475 Net Cash Provided by Operating Activitles 273774 Cash Flows from Investing Activities Sale of Building 610584 Purchase of Equipment -349788 Cash Flows from Investing Activitles 260796 Cash Flows from Financing Activitles Issuance of Common Stock 1096950 Cash Pald to Redeem Bonds at Maturity V -618000 Payment of Cash Dividend -67362 Purchase Treasury Stock -148629 Cash Flows from Operating Activitles 262959 Net Increase in Cash 797529