Cash SHERIDAN INC. BALANCE SHEET DECEMBER 31,2025 $7,700 Notes payable (short-term) ...
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Cash SHERIDAN INC. BALANCE SHEET DECEMBER $ Notes payable shortterm Keceivables Less: Allowance $ Accounts davable Inventory Prepaid insurance Land Equipment net Accrued liabilities Common stock par $ Retained earnings $ $ $ SHERIDAN INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER Net Sales Cost of goods sold $ Inventory, Jan. Purchases Cost of goods available for sale Inventory, Dec. Cost of goods sold Gross profit on sales Operating expenses Net income $ $ a Compute the following ratios or relationships of Sheridan Inc. Assume that the ending account balances are representative unless the information provided indicates differently.
Cash
SHERIDAN INC.
BALANCE SHEET
DECEMBER
$ Notes payable shortterm
Keceivables
Less: Allowance
$
Accounts davable
Inventory
Prepaid insurance
Land
Equipment net
Accrued liabilities
Common stock par $
Retained earnings
$
$
$
SHERIDAN INC.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER
Net Sales
Cost of goods sold
$
Inventory, Jan.
Purchases
Cost of goods available for sale
Inventory, Dec.
Cost of goods sold
Gross profit on sales
Operating expenses
Net income
$
$
a
Compute the following ratios or relationships of Sheridan Inc. Assume that the ending account balances are representative unless the information provided indicates differently.
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