Sheridan Company reported the following information for 2022 . Liabilities and Stockholders' Equity Accounts payable $64,500$60,000$4,500 Increase Accrued expenses payable Bonds payable Common stock (\$1 par) \begin{tabular}{rrrr} 0 & 15,000 & 15,000 & Decrease \\ 150,000 & 225,000 & 75,000 & Decrease \\ 345,000 & 90,000 & 255,000 Increase \\ 280,500 & 174,000 & 106,500 Increase \\ \hline \end{tabular} $840,000$564,000 Sheridan Company Income Statement For the Year Ended December 31, 2022 Sales revenue $1,411,500 Cost of goods sold $712,500 Operating expenses 346,500 Interest expense 18,000 Income tax expense Net income $234,000 Additional information: 1. Operating expenses include depreciation expense of $60,000. 2. Land was sold at its book value for cash. 3. Cash dividends of $127,500 were declared and paid in 2022 4. Equipment with a cost of $249,000 was purchased for cash. Equipment with a cost of $76,500 and a book value of $54,000 was sold for $51,000 cash 5. Bonds of $75,000 were redeemed at their face value for cash. 6. Common stock ( $1 par) of $255,000 was issued for cash. Use this information to prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.s. 15,000 or in parenthesis e.g. (15,000). Sheridan Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Adjustments to reconcile net income to 5