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Prepare the operating activities section of the statement

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Sheridan Company reported net income of $199,300 for 2019. Sheridan also reported depreciation expense of $46,900 and a loss of $6,500 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $17,600 for the year, a $19,600 increase in accounts payable, and a $4,900 decrease in prepaid expenses.

Problem 1: Prepare the operating activities section of the statement of cash flows for 2019. Use the indirect method.

Reference no: EM132821595

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