Sheridan Company's income statement contained the following condensed information. SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable 2022 $76,000 41,000 2021 $60,300 $623,400 Sheridan's balance sheets contained the comparative data at December 31, shown below. 27,100 55,300 25,600 $970,600 704,300 266,300 40,100 $226,200

Sheridan Company's income statement contained the following condensed information. SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue $970,600 Operating expenses, excluding depreciation $623,400 Depreciation expense 55,300 Loss on disposal of plant assets 25,600 704,300 Income before income taxes 266,300 Income tax expense Net income 40,100 $226,200 Sheridan's balance sheets contained the comparative data at December 31, shown below. 2022 2021 Accounts receivable $76,000 $60,300 Accounts payable 41,000 27,100