Question

Thus, Feb 6, 2020 1236 PM America/New York-05.00 Question 3 View Policies Current Attempt in Progress These financial statement items are for Sheridan Company at year-end, July 31, 2022 $4,100 59.100 17.300 17.620 4.000 67,700 10.200 Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-couiment Dividends Depreciation expense Retained earnings beginning of the year) 2.700 16.000 35.280 11.700 7400 4000 4.000 35.900

Answer 1

Solution:

1) Income Statement:

SHERIDAN COMPANY
Income statement
For year end, July 31, 2022
Revenue
Service Revenue	$                   67,700
Rent Revenue	$                   10,200
Total Revenue (A)		$           77,900
Operating Expenses / Expenses
Salaries and Wages Expense	$                   59,100
Supplies Expense	$                   17,300
Depreciation Expense	$                     4,000
Total Expenses (B)		$           80,400
Net Income / (loss) (A-B)		$           (2,500)

Notes;

1) Dividends does not comes in income statement.