SHERIDAN LTD. Balance Sheet May 31 Assets 2021 Cash $24,500 Accounts receivable 87.950 Inventory 1A2000 Prepaid expenses 5.700 Land 133,250 Equipment 317.000 Accumulated depreciation 175,200) Total accets $675200 Liabilities and Shareholders' Equity Accounts payable $42,550 Dividends payable 7,200 Income taxes payable 2.900 Mortgage payable 129,000 Common shares 217,500 Retained earnings 276,050 Total liabilities and shareholders' equity $675,200 2020 $46,250 70,250 159.250 7,200 78.500 197000 (39.250) S527,200 $39.250 5.700 6.700 79.250 165.250 231,050 $527 200 Additional Information: 1 Proit for 2021 was $107,250 2 Common shares were issued for $52,250. Land with a cost of $52 250 was sold at a loss of $19,700. 4 Purchased land with a cost of $107.000 with a $57,250 down payment and financed the remainder with a mortgage rate payable 5 No equipment was said during 2021. Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a-sign cg. -15,000 or in parenthesis e.g. (15,0001) SHERIDAN LID. Cash How Statement - Indirext Method Adjustments to reconcile profit to S Note X: Land with as cost of $ was purchased by payings cash and issuing a mortgage note payable for