these all are combined

The comparative, unclassified statement of financial position for Sheridan Ltd. shows the following balances at December 31: Sheridan Ltd. Statement of Financial Position December 31 Assets 2021 2020 Cash $ 47,000 $0 Accounts receivable 20,000 34,000 Inventory 35,000 56,000 Land 94,000 108,000 Buildings 529,000 263,000 Accumulated depreciation-buildings (74,000) (105,000) Equipment 87.000 45,000 Accumulated depreciation-equipment (19.000) (12.000 ) Total assets $719.000 $389,000 Liabilities and Shareholders' Equity Liabilities and Shareholders' Equity Bank overdraft $0 $9,000 Accounts payable $ 48,000 $ 30,000 Income tax payable 3,000 2.000 Interest payable 5,000 6,000 Dividends payable 3,000 1,000 Bank loan payable-current portion 22.000 24,000 Bank loan payable-non-current portion 382.000 198.000 Common shares 200.000 88,000 Retained earnings 56.000 31.000 Total liabilities and shareholders' equity $719,000 $389.000 Additional information regarding 2021: 1. Net income was $62,000. 2. A gain of $7,000 was recorded on the disposal of a small parcel of land. No land was purchased during the year. 3. Again on the disposal of $43,000 was recorded when an old building was sold for $58,000 cash. A new building was purchased for $366,000 and depreciation expense on buildings for the year was $54,000. 4. Equipment costing $68,000 was purchased while a loss of $9,000 was recorded on equipment that was sold for $5,000. The equipment that was sold late in the year had accumulated depreciation of $12,000. 5. The company took out $213,000 of new bank loans during the year. 6. Dividends were declared and paid and no common shares were bought back by the company. (a) Prepare the 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 LTD. UFW Purenesis 13,00) SHERIDAN LTD. Statement of Cash Flows-Indirect Method $ Adjustments to reconcile net income to $ > 3 S | M > S > . 3:44.1 30C A 9696 6/22/2