The following information is available for Sheridan Company for the year ended December 31, 2022. $ 40,500 3,300 Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds 145,800 7,400 9,900 255,700 31,500 10.800 4,200 260,100 23,400 180,000 Prepare a statement of cash flows 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 Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 255700 Adjustments to reconcile net income to Adjustments to reconcile net income to Net Cash Provided by Operating Activities - Depreciation Expense $ 145800 Increase in Accounts Receivable - 7400 Increase in Inventory -9900 Decrease in Accounts Payable -3300 Increase in Income Taxes Payable - 4200 129400 Net Cash Provided by Operating Activities 385100 Cash Flows from Investing Activities Sale of Land 31500 Purchase of Building -260100 Cash Flows from Investing Activities 228600 Cash Flows from Financing Activities Issuance of Bonds 180000 Purchase of Treasury Stock -23400 Cash Flows from Investing Activities Sale of Land 31500 Purchase of Building 260100 Cash Flows from Investing Activities . 228600 Cash Flows from Financing Activities Issuance of Bonds 180000 Purchase of Treasury Stock -23400 Payment of Dividend 10800 Cash Flows from Financing Activities - 145800 Net Increase in Cash -43500 Cash at Beginning of Period 40500 Cash at End of Period $ 84000 e Textbook and Media Save for Later Attempts: 3 of 4 used Submit