Current Attempt in Progress The following three accounts appear in the general ledger of Sheffield Corp. during 2022. Equipment Date Debit Credit Balance Jan. 1 Balance 161,400 July 31 Purchase of equipment 68,000 229,400 Sept. 2 Purchase of equipment 54,600 284,000 Nov. 10 Cost of equipment sold 48,000 236,000 Accumulated Depreciation-Equipment Date Debit Credit Balance Jan. 1 Balance 70,300 Nov. 10 Accumulated depreciation on equipment sold 16,500 53,800 Dec. 31 Depreciation for year 23,500 77,300 Retained Earnings Date Debit Credit Balance Jan. 1 Balance 104,400 Aug. 23 Dividends (cash) 16.300 88,100 Dec. 31 Net income 67,900 156,000 From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of plant assets was $8,200. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SHEFFIELD CORP Statement of Cash Flows (Partial) - Indirect Method V $ Adjustments to reconcile net income to V V V V V V V V V V V eTextbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerCurrent Attempt in Progress You are provided with the following information regarding events that occurred at Moore Corporation during 2022 or changes in account balances as of December 31, 2022. Moore prepares its statement of cash flows using the indirect method. Complete the first column of the table, indicating whether each Item affects the operating activities section (O) (that is, the item would be listed among the adjustments to net income to determine net cash provided by operating activities under the indirect method), investing activities section (I), financing activities section (F), or is a noncash (NC) transaction reported in a separate schedule. For those items classified as operating activities (O), indicate whether the item is added (A) or subtracted (S) from net income to determine net cash provided by operating activities. If Operating, added to Statement of Cash Flow or subtracted from Transaction Section Effected net income (a) Depreciation expense was $80,000. Financing Activity (b) Interest Payable account increased $5,000. Noncash Transaction Investing Activity (c) Received $26,000 from sale of plant assets. Operating Activity (d) Acquired land by issuing common stock to seller. V V (e) Paid $17,000 cash dividend to preferred stockholders. V Paid $4,000 cash dividend to common stockholders. V V (g) Accounts Receivable account decreased $10,000. V V (h) Inventory increased $2,000. V V Received $100,000 from issuing bonds payable. V V Acquired equipment for $16,000 cash. V V eTextbook and Media Save for Later Attempts: 0 of 3 used Submit