Sheridan Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2022 Cash Receipts $21,500 Cash Payments $9,050 1.295 335 Issuance of common shares Payment to purchase repair shop equipment Rent payments to landlord Newspaper advertising payment Utility bill payments Part-time helper's wage payments Income tax payment Cash receipts from ski and snowboard repair services Subtotals 945 2,450 11,700 31,000 52,500 25.775 Cash balance 26.725 Totals $52,500 $52,500 The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The part-time helper is owed $355 at April 30, 2022. for unpaid wages. At April 30, 2022, customers owe Sheridan Company $490 for services they have received but have not yet paid for Prepare an accrual basis income statement for the 6 months ended April 30, 2022. SHERIDAN COMPANY Income Statement PM