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

After importing the ABS Module (from File > Project Structure) and making sure it has Android 2.2 and Support Library v4 as dependencies, I was still getting the following error as you @Alex

Error retrieving parent for item: No resource found that matches the given name 'Theme.Sherlock.Light.DarkActionBar'

I added the newly imported module as a dependency to my main app module and that fixed the problem.