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Sheridan Limited reported the following selected information for the year ended March 31, 2021: Advertising expense $9,000 $5,400 Interest expense Loss on discontinued operations Cash
Sheridan Limited reported the following selected information for the year ended March 31, 2021: Advertising expense $9,000 $5,400 Interest expense Loss on discontinued operations Cash dividends-common 7,000 24,000 Depreciation expense 4,000 Rent revenue 33,000 Fees earned 62,000 Retained earnings, April 1, 2020 17,000 Gain on disposal of equipment 1,300 Telephone expense 12,000 4,000 Holding loss on equity investments Income tax payable 6,300 The company's income tax rate is 30%. The company reports gains and losses on its equity investments as other comprehensive income. SHERIDAN LIMITED Income Statement Year Ended March 31, 2021 Revenues Fees Earned 5 Rent Revenue Total Revenues Operating Expenses Advertising Expense Depreciation Expense v Telephone Expense Total Operating Expenses Profit from Operations Other Revenues Gain on Disposal of Equipment Other Revenues Interest Expense SHERIDAN LIMITED Statement of Comprehensive Income Year Ended March 31, 2021 $ $ Other Comprehensive Income (Loss) Holding Loss on Equity Investments S $
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