Sheridan Corp. uses the direct method to prepare its statement of cash flows. Sheridan trial balances at December 31, 2020 and 2019, are as follows. December 31 Debits 2020 2019 Cash $34,700 $31,900 Accounts receivable 32,800 29.900 Inventory 31,200 46,800 Property, plant, & equipment 99,300 94,400 Unamortized bond discount 4,500 5,000 Cost of goods sold 249,900 380,000 Selling expenses 142,500 173,600 General and administrative expenses 135,600 151,500 Interest expense 4,400 2,600 Income tax expense 20,300 61,700 $755,200 $977,400