signment ES V. Exercise 5-14 The comparative balance sheets of Sheridan Inc. at the beginning and the end of the year 2020 are as follows. SHERIDAN INC. BALANCE SHEETS Dec 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 48,040 $ 16,040 $32,000 Inc. Accounts receivable 95,250 89,210 6,040 Inc. Equipment 43,250 23,210 20,040 Inc. Less: Accumulated Depreciation-Equipment 21,250 11,000 10,250 Inc. Total $165,290 $117,460 Liabilities and Stockholders' Equity Accounts payable $ 24,250 $ 16,210 8,040 Inc Common stock 103,040 81,210 21,830 Inc. Retained earnings 38,000 20,040 17,960 Inc Total $165,290 $117,460 Net income of $48,250 was reported, and dividends of $30,290 were paid in 2020. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in SHERIDAN INC. Statement of Cash Flows Adjustments to reconcile net income to search O BI a 8. gnment Net income of $48,250 was reported, and dividends of $30,290 were paid in 2020. New equipment was purchased and none was Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15, SHERIDAN INC. Statement of Cash Flows Adjustments to reconcile net income to > > search a RCES Level tudy Click if you would like to Show Work for this question: Deen Show Work ere to search