Exercise 11-22 a-b (Part Level Submission) In 2020, Sheridan Company had net sales of $598,000 and cost of goods sold of $358,000. Operating expenses were $151,000, and interest expense was $7,000. The corporation's tax rate is 30% . The corporation declared preferred dividends of $11,000 in 2020, and its average common stockholders' equity during the year was 10 000. Prepare an income statement for Sheridan Company. Sheridan Company Statement