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Sheridan Limited reported the following selected information for the year ended March 31, 2021: $9,000 Interest expense $5,400 Advertising expense Cash dividends-common 7,000 Loss on
Sheridan Limited reported the following selected information for the year ended March 31, 2021: $9,000 Interest expense $5,400 Advertising expense Cash dividends-common 7,000 Loss on discontinued operations 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 Holding loss on equity investments 4,000 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. Prepare an income statement and a separate statement of comprehensive income for Sheridan Limited. SHERIDAN LIMITED Income Statement $ > SHERIDAN LIMITED Statement of Comprehensive Income $ $
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