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A tabular analysis of the transactions made during August 2022 by Sheridan Company during its first month of operations is shown below. Each increase and
A tabular analysis of the transactions made during August 2022 by Sheridan Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. ssets Liabilities + Stockholders' Equity ash + A/R + Supp. Equip. Accounts Payable + Common Stock + Retained Earnings 18,400 -1,110 -780 4,500 $5,400 -2,500 -1,300 -790 410 -410 -4,000 Revenues Expenses Dividends $18,400 $5,060 $3,950 $780 -2,500 $9,900 Serv. Rev. -$1,300 Rent -$790 Exp. Sal. -4,000 Exp. 220 Util. -220 Exp. Prepare an income statement for August. SHERIDAN COMPANY Income Statement $ $
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