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Current Attempt in Progress Presented below is information for Sheridan Company for the month of March 2019. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $219,040 7,500 5,700 55,380 Rent expense Sales discounts Sales returns and allowances Sales revenue $35,010 8,510 12,020 387,050 Your answer is partially correct. Prepare a multiple-step income statement. (If there is a net loss then enter the amount using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Sheridan Company Income Statement For the Month Ended March 31, 2019 Net Sales On September 1, Novak Office Supply had an inventory of 35 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 Sept. 9 Sept. 10 Sept. 12 Sept. 14 Sept. 20 Purchased with cash 85 calculators at $25 each from Larkspur, Inc.. Paid freight of $85 on calculators purchased from Larkspur, Inc.. Returned 5 calculators to Larkspur, Inc. for $130 cash (including freight) because they did not meet specifications. Sold 27 calculators costing $26 (including freight) for $32 each on account to Lee Book Store, terms n/30. Granted credit of $32 to Lee Book Store for the return of one calculator that was not ordered. Sold 31 calculators costing $26 for $33 each on account to Orr's Card Shop, terms n/30. Journalize the September transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Sept. 6 Inventory 2125 Accounts Receivable 2125