The income statement of Sheridan Company is shown below. Additional information: 1. Accounts receivable decreased $400,000 during the year. 2. Prepaid expenses increased $160,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $260,000 during the year. 4. Accrued expenses payable decreased $110,000 during the year. 5. Administrative expenses include depreciation expense of $60,000. Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the operating activities section of the statement of cash flows using the direct method. SHERIDAN COMPANY Partial Statement of Cash Flows Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash