SHERIDAN CORPORATION Statement of Financial Position March 31 Assets 2023 2022 Cash $18,140 $12,100 Notes receivable (current) 146,260 129,200 Accounts receivable (net) 131,020 128,900 Inventories (at cost) 105,960 49,200 Plant and equipment (net of depreciation) 1,423,400 1,372,000 Total assets $1,824,780 $1,691,400 Equity and Liabilities Share capital-common (131,000 shares issued) $1,310,000 $1,310,000 Retained earnings (note 1) 384,020 276,000 Accrued liabilities 8,980 5,860 Notes payable (current) 77,600 60,840 Accounts payable 44,180 38,700 Total equity and liabilities $1,824,780 $1,691,400 Note 1: Cash dividends were paid at the rate of $1 per share in fiscal year 2022 and $2 per share in fiscal year 2023. SHERIDAN CORPORATION Income Statement For the Fiscal Years Ended March 31 2023 2022 Sales $2,986,600 $2,687,000 Cost of goods sold (note 2) 1,522,800 1,421,000 Gross margin 1,463,800 1,266,000 Operating expenses 815,000 769,000 Income before income tax 648,800 497,000 Income tax (30%) 194,640 149,100 Net income $454,160 $347,900 Note 2: Depreciation charges on the plant and equipment of $96,000 and $98,400 for fiscal years ended March 31, 2022, and March 31, 2023, respectively, are included in cost of goods sold. Additional information: 2023 2022 1. Cash flows from operating activities 2. Capital expenditures for the year $459,000 $350,000 128,000 110,000 Calculate the following items for Sheridan: