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Prepare a statement of cash flows for 2022 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).) Adjustments to reconcile net income to > SHERIDAN CORPORATION Statement of Cash Flows > < tA LA

Prepare a statement of cash flows for 2022 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).) Adjustments to reconcile net income to > SHERIDAN CORPORATION Statement of Cash Flows > < tA LA

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sheridan Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total SHERIDAN CORPORATION Comparative Balance Sheets December 31 Additional information: 1. 2. 3. 2022 $14,900 21,500 19,700 70,100 (14,800) $111,400 $12,100 75,400 23,900 $111,400 2021 $10,400 23,400 25,900 70,100 (10,700) $119,100 $31,300 70,600 17,200 $119,100 Net income was $22,400. Dividends declared and paid were $15,700. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4.900.
Transcribed Image Text:Sheridan Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total SHERIDAN CORPORATION Comparative Balance Sheets December 31 Additional information: 1. 2. 3. 2022 $14,900 21,500 19,700 70,100 (14,800) $111,400 $12,100 75,400 23,900 $111,400 2021 $10,400 23,400 25,900 70,100 (10,700) $119,100 $31,300 70,600 17,200 $119,100 Net income was $22,400. Dividends declared and paid were $15,700. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4.900.
Prepare a statement of cash flows for 2022 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 CORPORATION Statement of Cash Flows Adjustments to reconcile net income to $ $
Transcribed Image Text:Prepare a statement of cash flows for 2022 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 CORPORATION Statement of Cash Flows Adjustments to reconcile net income to $ $
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