The 2020 and 2021 partial balance sheets for Sheridan Manufacturing Company appear below along with selected financial information: 2020 2021 Current Assets Cash $23,000 $22,000 Accounts receivable, net 28,000 26,000 Inventory 37,000 41,000 Total current assets 88,000 89,000 Plant & equipment, net 67,000 47,000 Total assets 155,000 136,000 Net credit sales $137,000 $127,980 Cost of goods sold 104,000 86,970 Gross profit $33,000 $41,010