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Sheridan's Custom Clothing Ltd. (SCC) selis branded clothing to resorts and corporations. The company's comparative financial statements are presented below. Following is additional intormation concerning SCC's transactions during the year ended December 31, 2023: Equipment costing $35,000 was purchased by paying $25,000 cash and issuing 400 common shares - Equipment costing 575,000 that was purchased at the beginning of 2022 was soid at the end of 2023 for $40,000. Straight-line depreclation had been used with an expected asset life of 5 years and a residual value of $0. The "other expenses' relate to prepaid items In order to suppiement its cash. SCC increased its banik loan by $11.000 Cash dividends of $26,500 were paid at the end of the fuscal year. Cost of saies includes $181,000 of direct labour conts Prepare a statement of cash fiowsfor SCC for the vear ended Pecember 31, 2023, uning the direct imethod scC follows ASPE (Show amounts ther decrease cash flow with either a negative sign e.3. -15,000 or in parenthesis e. (13.000). Following is additional intormation concerning SCC's transactions during the year ended December 31, 2023: Equipment costing $35,000 was purchased by paying $25,000 cash and issuing 400 common shares - Equipment costing 575,000 that was purchased at the beginning of 2022 was soid at the end of 2023 for $40,000. Straight-line depreclation had been used with an expected asset life of 5 years and a residual value of $0. The "other expenses' relate to prepaid items In order to suppiement its cash. SCC increased its banik loan by $11.000 Cash dividends of $26,500 were paid at the end of the fuscal year. Cost of saies includes $181,000 of direct labour conts Prepare a statement of cash fiowsfor SCC for the vear ended Pecember 31, 2023, uning the direct imethod scC follows ASPE (Show amounts ther decrease cash flow with either a negative sign e.3. -15,000 or in parenthesis e. (13.000). Current Attempt in Progress Sheridan's Custom Clothing Ltd. (SCC) sells branded clothing to resorts and corporations. The company financial statements are presented below

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