How do I add a library project to Android Studio?

Question

How do I add a library project (such as Sherlock ABS) to Android Studio?

(Not to the old ADT Eclipse-based bundle, but to the new Android Studio.)

Answer 1

You can do this easily. Go to menu File -> New -> Import Module...:

Browse for the directory which contains the module. Click Finish:

Go to Project Structure and add Module Dependency:

Note: If you receive an SDK error, update that one.