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The comparative balance sheets for Sheridan Park Corporation appear below: Dec. 31, 2020 SHERIDAN PARK CORPORATION Comparative Balance Sheet Dec. 31, 2021 Assets Cash $24.750
The comparative balance sheets for Sheridan Park Corporation appear below: Dec. 31, 2020 SHERIDAN PARK CORPORATION Comparative Balance Sheet Dec. 31, 2021 Assets Cash $24.750 Accounts receivable 19.050 Prepaid expenses 6,700 Inventory 28,050 Long-term investment in bonds 0 Equipment 62,100 Accumulated depreciation-equipment (19,050) Total assets $121,600 Liabilities and Shareholders' Equity Accounts payable $22,050 Bonds payable 37.700 Common shares 42,100 Retained earnings 19,750 Total liabilities and shareholders' equity $121,600 $12,700 14,700 10,050 18,700 18,700 30,700 (14,700) $90,850 $9,700 46,050 24,400 10,700 $90,850 Additional information: 1. Profit for the year ending December 31, 2021 was $20,700. 2. Cash dividends of $12,700 were declared and paid during the year. 3. Long-term investments in bonds that had an amortized cost of $19,750 were sold for $16,350. Prepare the cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) SHERIDAN PARK CORPORATION Cash Flow Statement $ Adjustments to reconcile profit to $ > > LA $
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