Sheridan Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) $236,320 Current liabilities $151,320 Land 31,520 Bonds payable 101,320 Buildings 121,320 Common stock 181,520 Equipment 91,520 Retained earnings 45,520 Accum. depr.-buildings (31,320) Total $479,680 Accum. depr.-equipment (11,000 ) Patents 41,320 Total $479,680 The following information is available for 2020. 1. Net income was $53,040. 2. 3. 4. 5. 6. 7. A long-term investment in stock was purchased for $16,000. 8. Equipment (cost $21.320 and accumulated depreciation $9.320) was sold for $11,320. Depreciation expense was $5,320 on the building and $10,320 on equipment. Patent amortization was $2,500. Current assets other than cash increased by $29,000. Current liabilities increased by $14,320. An addition to the building was completed at a cost of $28,320. Bonds payable of $51,520 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000. Prepare a balance sheet at December 31, 2020. (Show only totals for current assets and current liabilities.) (List Property. Plant and Equipment in order of Land, Building and Equipment.) Current Assets SHERIDAN CORPORATION Balance Sheet December 31, 2020 Assets A Liabilities and Stockholders' Equity MacBook Pro e sheet at December 31, 2020. (Show only totals for current assets and current liabilities.) (List Property. ment in order of Land, Building and Equipment.) SHERIDAN CORPORATION Balance Sheet December 31, 2020 Assets Quest Account Viewin Accoun Quest Account $ Liabilities and Stockholders' Equity $ Quest Accounti Questi Accounti Questi Accounti Questi Account Questi Accountia Questi Accountin Liabilities and Stockholders' Equity eTextbook and Media 197 book and Media Accounts Liabilities and Stockholders' Equity 69 Later Last saved 3 hours ago. Attempts: 0 of 5 used Submit Answer ck will be auto submitted on the due date