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Question 2 Here are incomplete financial statements for Sheridan, Inc.: Calculate the missing amounts. SHERIDAN, INC. Statement of Financial Position December 31, 2018 Liabilities and Shareholders' Equity Asset Cash Inventory Building Total assets $4,000 Liabilities 8,000 Accounts payable 44,000 Shareholders' equity $56,000 Cmon shares $4,000 6,000 (b) 46,000 $56,000 Retained earnings Total liabilities and shareholders' equity SHERIDAN, INC. Income Statement Year Ended December 31, 2018 Sales revenue Cost of goods sold Operating expenses Income before income tax Income tax expense Net income $85,000 54,00 13,000 (d) 18,000 6,000 12,000 (e)$ SHERIDAN, INC. Statement of Changes in Equity Year Ended December 31, 2018 Common Shares Retained Earnings $12,000 Total Equity Balance, Jan. 1 $6,000 $18,000 Issued common shares 6,000 6,000 8,000 e) Net income Dividends declared Balance, Dec. 31 18,000 (5,000 ) 37,000 (5,000 ) $25,000 (g)s 12,000 (a)$