SHERIDAN LTD. Statement of Financial Position December 31, 2024 Cash $55000 Accounts payable $66500 Accounts receivable 100000 Salaries payable 25300 Inventory 114000 Bonds payable due 2030 218000 Prepaid insurance 14800 Total liabilities 309800 Land 161000 Building $240000 Common shares 251000 Less: Accumlated depreciation 71100 Retained earnings 150000 Trademark 132000 Total shareholders' equity 401000 168900 Less: Accum. Amort. 34900 97100 Total assets $710800 Total liabilites and shareholders' equity $710800 Net income retained for use in the business is O $309800. O $150000. O $710800. O $401000