Assignment #2 (Ch 5 - 7) anada cing Weekly Question 3 of 8 cements View Policies Current Attempt in Progress Sheridan Ltd., which follows ASPE, had the following comparative Statement of Financial Position: ons nces ations ents JS Support Sheridan Ltd. Comparative Statement of Financial Position March 31 Assets 2021 2020 Cash $ 18,700 $ 13,200 Accounts receivable 66,000 44,000 Inventory 92,400 77,000 Prepaid expenses 6,600 4,400 Property, plant, and equipment 275.000 231,000 Accumulated depreciation (66,000) (52.800) coming an external tool Assignment #2 (Ch 5 - 7) Question 3 of 8 > eekly DOU ts 231,000 (52,800) $ 316,800 Prepar expenses Property, plant, and equipment 275,000 Accumulated depreciation (66,000) Total assets $ 392,700 Liabilities and Shareholders' Equity Accounts payable $ 38,500 Interest payable 3,300 Income taxes payable 24,200 Bonds payable 99.000 Common shares 104.500 Retained earnings 123,200 Total liabilities and shareholders'equity $ 392.700 $ 44,000 4,400 13.200 70,400 88,000 96,800 $ 316,800 Sport Additional information: Due Sunday by 11:59pm Points 10 Submitting an external tool Assignment #2 (Ch 5 - 7) Question 3 of 8 -/7 Additional information: 1. Net income for the fiscal year was $41,800 2. Equipment with an original cost of $33,000 was sold for $13,200 cash during 2021. The equipment was depreciated $13.200. This disposal resulted in a $6,600 loss. Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with elther a-signey. -15,000 or in parenthesises (15,0001) Sheridan Ltd. Statement of Cash Flows Duesund Assignment #2 (Ch 5.7) - 77 da Weekly Question 3 of 8 ents Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a-san-15,000 or in parenthesis 3. (15,0001) Sheridan Ltd. Statement of Cash Flows ons ts $ Support Adjustments to reconcile net income to net cash provided by operating activities: $ Home Due Sunday by 11:59pm Points 10 e Textbook Submitting an external tool Modules Assignment #2 (Ch 5.7) Grades Wiley Canada Accounting Weekly Updates Question 3 of 8 -17 net cash provided by operating activities: Announcements Discussions Conferences Collaborations assignments WileyPLUS Support