The comparative statement of financial position for Sheridan Retailers Ltd. follows: SHERIDANRETAILERS LTD. Statement of Financial Position December 31 Assets 2021 Cash $ 0 Accounts receivable 72,000 Inventory 218,000 Furniture 134,000 Accumulated depreciation (35,000) Total assets $ 389.000 2020 $ 21,000 47,000 171,000 164,000 (45,000) $ 358,000 Liabilities and Shareholders'Equity Bank overdraft Accounts payable Bank loan payable (noncurrent) Common shares Retained earnings Totalllabilities and shareholders' equity $ 5.000 65,000 90.000 49.000 180,000 $ 389.000 $ 0 48.000 105,000 59.000 146,000 $ 358,000 Additional Information regarding 2021 2 3. 4 Net income was $39.000. Depreciation expense was $16.000 During the year, the company did not receive any new bank loans During the year, the company did not purchase furniture but did sell some furniture for $6.000, which resulted in a gain on disposal of $2.000 No common shares were issued during the year but some were repurchased at the cast at which they were originally issued 5. V Prepare a statement of cash flows using the indirect method for 2021 (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis es (15,000)) SHERIDAN RETAILERS LTD. Statement of Cash Flows Year Ended December 31, 2021 Cash flows from operating activities Net Income Adjustments to reconcile net income to Net cash provided by operating activities Depreciation expense $