Sheridan Companypaid $28,800to purchase equipment on January 1, 2021.Sheridan Companyhas a December 31 fiscal year end and uses straight-line depreciation. The company estimates the equipment will have a8-year useful life.

Show the balance sheet presentation of the equipment at December 31, 2021, and 2022. SHERIDAN COMPANY Balance Sheet (partial) December 31 2022 2021 Current Assets Carrying amount to $Show the income statement presentation of the equipment at December 31, 2021, and 2022. SHERIDAN COMPANY Income Statement (partial) 2022 2021