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Sheridan Corporation's comparative balance sheets are presented below. 1. Net income was $19,500. Dividends declared and paid were $11,100. 2. Equipment which cost $14,600 and
Sheridan Corporation's comparative balance sheets are presented below. 1. Net income was $19,500. Dividends declared and paid were $11,100. 2. Equipment which cost $14,600 and had accumulated depreciation of $3,800 was sold for $5,800. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign eg. 15,000 or in parenthesis eg. (15,000). Cash Flows from Investing Activities Sale of Equipment
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