The comparative statements of Sheridan Company are presented here. Sheridan Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,810,300 $1,751,900 Cost of goods sold 1,006,500 981,000 Gross profit 803,800 770,900 Selling and administrative expenses 511,400 475.200 Income from operations 292,400 295,700 Other expenses and losses Interest expense 18,800 13,600 Income before income taxes 273,600 282,100 Income tax expense 81,342 76,500 Net income $ 192,258 $205,600 Assets Sheridan Company Balance Sheets December 31 2022 2021 Current assets Cash $59,000 $63,000 Debt investments (short-term) 69,300 49.200 Accounts receivable (net) 116,500 102,400 Inventory 122,200 114,500 Total current assets 367,000 329.100 Plant assets (net) 598.200 519.400 Total assets $965,200 $848,500 Liabilities and Stockholders' Equity