Sheridan started the year with $$26,800$ of common shares and issued $$21,400$ more during the year.

Sheridan must pay $$37,600$ of the mortgage payable next year in $2025.$

These items are taken from the financial statements of Sheridan Limited for the year ended December $31,2024$:

Cash

Buildings

Accumulated depreciation$-$equipment $,20,500$

Accounts payable $,10,360$

Salaries payable $,6,600$

Common shares $48,200$

Accumulated depreciation$-$buildings $,12,800$

Accounts receivable $8,000$

Equipment

Income tax expense

Long$-$term investments

Retained earnings, January $1$