Presented below is the income statement of Sheridan, Inc.: Sales revenue $380,500 Cost of goods sold...

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Presented below is the income statement of Sheridan, Inc.: Sales revenue $380,500 Cost of goods sold 228,000 Gross profit 152,500 Operating expenses 93,500 Income before income taxes 59,000 Income taxes 23,100 Net income $35,900 In addition, the following information related to net changes in working capital is presented: Debit Credit Cash $11,100 Accounts receivable 24,600 Inventories $19,700 Salaries payable (operating expenses) 8,400 Accounts payable 13,400 Income taxes payable 2,500 > The company also indicates that depreciation expense for the year was $16,700 and that the deferred tax liability account increased $2,600. (a) Prepare a schedule computing the net cash flow from operating activities by using the indirect method that would be shown on statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g. -15,000 or in parenthesis e.g. (15,000).) SHERIDAN, INC. Statement of Cash Flows (Partial) (Indirect Method) Adjustments to reconcile net income to (b) Save for Later $ $ Attempts: 0 of 1 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above. Presented below is the income statement of Sheridan, Inc.: Sales revenue $380,500 Cost of goods sold 228,000 Gross profit 152,500 Operating expenses 93,500 Income before income taxes 59,000 Income taxes 23,100 Net income $35,900 In addition, the following information related to net changes in working capital is presented: Debit Credit Cash $11,100 Accounts receivable 24,600 Inventories $19,700 Salaries payable (operating expenses) 8,400 Accounts payable 13,400 Income taxes payable 2,500 > The company also indicates that depreciation expense for the year was $16,700 and that the deferred tax liability account increased $2,600. (a) Prepare a schedule computing the net cash flow from operating activities by using the indirect method that would be shown on statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g. -15,000 or in parenthesis e.g. (15,000).) SHERIDAN, INC. Statement of Cash Flows (Partial) (Indirect Method) Adjustments to reconcile net income to (b) Save for Later $ $ Attempts: 0 of 1 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above.