Presented below are selected ledger accounts of Sheridan Corporation as of December 31, 2017 Cash $ 123,000 Administrative expenses 249,000 Selling expenses 202,000 Net sales 1,352,000 Cost of goods sold 524,000 54,000 Cash dividends declared (2017) Cash dividends paid (2017) 37,000 Discontinued operations (loss before income taxes) 100,000 Depreciation expense, not recorded in 2016 76,000 Retained earnings, December 31, 2016 226,000 Effective tax rate = 30% Compute net income for 2017 Net Income $ 193900 e Textbook and Media Attempts: 1 of 12 used (b) Your answer is partially correct Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 10,000 shares of common stock were outstanding during 2017. (Round earnings per share to 2 decimal places, eg. 1.58. Enter loss using - sign before the number or in parantheses, 6.8. -5,125 or (5,125)) SHERIDAN CORPORATION Income Statement For the Year Ended December 31, 2017 Income From Continuing Operations Before Income Tax SHERIDAN CORPORATION Income Statement For the Year Ended December 31, 2017 Income From Continuing Operations Before Income Tax Income Tax Income From Continuing Operations Net Income /(Loss)