In its income statement for the year ended December 31, 2025, Sheridan Inc. reported the following condensed data. Operating expenses Cost of goods sold Interest expense Income tax expense $727,000 1,263,000 78,000 52,000 Interest revenue Loss on disposal of plant assets Sales revenue Sales discounts $40,000 17,000 2,352,000 140,000

SHERIDANINC Income Statement $ I In its income statement for the year ended December 31, 2025, Sheridan Inc. reported the following condensed data. OperatingexpensesCostofgoodssoldInterestexpenseIncometaxexpense$727,0001,263,00078,00052,000InterestrevenueLossondisposalofplantassetsSalesrevenueSalesdiscounts$40,00017,0002,352,000140,000