SHERIDAN CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash $15,100 $10,300 Accounts receivable 21,500 23,800 Land 20,500 26,400 Buildings 70,100 70,100 Accumulated depreciation-buildings (15,000) (10,300) Total $112,200 $120,300 Accounts payable $12,500 $31,400 Common stock 75,800 70,100 Retained earnings 23,900 18,800 Total $112,200 $120,300 Accounts payable $12,500 $31,400 Common stock 75,800 70,100 Retained earnings 23,900 18,800 Total $112,200 $120,300 Additional information: 1. 2. Net income was $22,200. Dividends declared and paid were $17,100. No noncash investing and financing activities occurred during 2022. 3. The land was sold for cash of $4,800. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign e. -15,000, or in parenthesis e.g. (15,000).) SHERIDAN CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense Sale of Land Decrease in Accounts Receivable Decrease in Accounts Payable $ 22200 Cash Flows from Operating Activities Depreciation Expense Sale of Land Decrease in Accounts Receivable Decrease in Accounts Payable Net Cash Used by Operating Activities Cash Flows from Investing Activities Sale of Land Net Cash Provided by Investing Activities Cash Flows from Financing Activities $ Cash Flows from Investing Activities Sale of Land Net Cash Provided by Investing Activities Cash Flows from Financing Activities Issuance of Common Stock Payment of Dividends Net Cash Provided by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period