On December 1, 2025, Sheridan Distributing Company had the following account balances. Debit Credit Cash $6,800 4,200 Accumulated Depreciation-Equipment $2,200 Accounts Receivable Accounts Payable 4,100 Inventory 11,600 Salaries and Wages Payable 1,000 Supplies 1,200 Common Stock 15,000 Equipment 22,000 Retained Earnings 23,500 $45,800 $45,800 During December, the company completed the following summary transactions. Dec. 6 8 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable. Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $5,900. The cost of the merchandise sold was $4,000. 13 Purchased merchandise on account from Hecht Co. $7,200, terms 2/10, /30. 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $10,800, terms 3/10, n/30. The cost of the merchandise sold was $7,100. 20 23 Paid salaries $1,600. Paid Hecht Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. income statement