Asditionuldats 1 Degreciat on eqcerme was $15800 3. Durine the year, eousment was sold for $8,600 sah. The equpment of is hully cost $16,300 and had accumblated - depreciation of 59700 at the intued ove. 4 Boods wererescemed an their carvine value 5. Commonviock was wued at bur fisr cant Pretented here are the fruncial staterents of Sheridan Compamy. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventory purchases are on account