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Sheridan Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: 2024 2023 Accounts receivable $46,400
Sheridan Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: 2024 2023 Accounts receivable $46,400 $69,600 Inventory 73,080 81.200 Prepaid expenses 4,640 2,320 Accounts payable 40,600 46,400 Income tax payable 18.560 11,600 Depreciation expense 58,000 Gain on sale of equipment 52,400 Profit for the year 382,800 Calculate the net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a signes -15,000 or in parenthesis ea. (15,000)) Net cash provided by operating activities $ 372160 eTextbook and Media Attempts: 1 of 3 used Repeat with hew V
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