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Sheridan Company reported net income of $2.2 million in 2022. Depreciation for the year was $159,100, accounts receivable decreased $351,400, and accounts payable decreased $261,200.

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Sheridan Company reported net income of $2.2 million in 2022. Depreciation for the year was $159,100, accounts receivable decreased $351,400, and accounts payable decreased $261,200. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a- signes. -15,000 or in parenthesis es. (15,000).) Sheridan Company Statement of Cash Flows-Indirect Approach For the Year Ended 2022 Cash Flows from Operating Activities Net Income 2700000 Adjustments to reconcile net income to Net Cash Used by Operating Activities Depreciation Expense $ 161400 Accounts Receivable Decrease 349400 Accounts Payable Decrease 304200 2066000 2906600 Net Cash Provided by Operating Activities

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