Prepare the statement of cash flow using the indirect method

Presented here are the financial statements of Sheridan Company. SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 \begin{tabular}{lr} Sales revenue & $242,900 \\ Cost of goods sold & 175,700 \\ \cline { 2 - 2 } Gross profit & 67,200 \end{tabular} Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $17,775 8,120 $32,480 1. Depreciation expense was $15,800. 2. Dividends declared and paid were $24,780. 3. During the year, equipment was sold for $8,600 cash. This equipment originally cost $18,300 and had accumulated depreciation of $9,700 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Commonstock was issued at par for cash. Dranara netatamant af raeh flaue ueina tha indirart methnd /Shnw amounts that decrease cash flow with eith Presented here are the financial statements of Sheridan Company. SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 \begin{tabular}{lr} Sales revenue & $242,900 \\ Cost of goods sold & 175,700 \\ \cline { 2 - 2 } Gross profit & 67,200 \end{tabular} Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $17,775 8,120 $32,480 1. Depreciation expense was $15,800. 2. Dividends declared and paid were $24,780. 3. During the year, equipment was sold for $8,600 cash. This equipment originally cost $18,300 and had accumulated depreciation of $9,700 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Commonstock was issued at par for cash. Dranara netatamant af raeh flaue ueina tha indirart methnd /Shnw amounts that decrease cash flow with eith