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show calculation with explanation Problem 2-02A (Part Level Submission) These items are taken from the financial statements of Sheridan Company for 2022. Retained earnings (beginning

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Problem 2-02A (Part Level Submission) These items are taken from the financial statements of Sheridan Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $35,340 2,140 61,400 15,640 14,290 7,920 22,300 12,000 3,000 6,200 2,400 70,700 8,420 1,660 3,120 13,630 2,680 39,650 21,790 Prepare an income statement for the year ended December 31, 2022. (Enfer negative amounts using either a negative sin preceding the numbered 15 or parentheses SHERIDAN COMPANY Income Statement

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