exercise 13 11 the following items were gathered from sheridan industries general ledger

Exercise 13-11

The following items were gathered from Sheridan Industries’ general ledger:

Sale of marketable securities $ 14,040
Depreciation and amortization expense 23,972
Payment of cash dividends 3,863
Proceeds from disposal of equipment 829
Loss on disposal of equipment 160
Net income 26,163
Beginning Cash balance 19,710
Purchase of equipment 21,412
Decrease in Accounts Receivable 1,098
Proceeds from issuing common stock 2,351
Increase in Inventory 3,625
Increase in Accounts Payable 4,670
Ending Cash balance 64,093

Using the indirect method, construct Sheridan Industries’ statement of cash flows.
(Show amounts that decrease cash flow with either a – sign, e.g. -15,000 or in parentheses, e.g. (15,000).)


Statement of Cash Flows



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