The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100 Salaries payable 18,000 Service revenue Additional information: All accounts have a normal balance. During the year, the company issued common shares for $11,000 SHERIDAN INC. Trial Balance July 31, 2018 Debit Credit Accounts payable 9800 Accounts receivable 14300 Accumulated Depreciation Equipment 21300 Bank Loan Payable 38300 Cash 13500 Common shares 38000 Depreciation expense 9500 Dividends declared 800 Equipment 98100 Held for trading investments 18000 Income tax expense 3000 Insurance expense 1800 Interest expense 3700 Prepaid insurance 100 Rent expense 8700 Repairs and maintenance expense Retained earnings Salaries expense 10200 20300 24700 Salaries payable 800 Service revenue 77900 Totals 206400 206400 Prepare an income statement for the year. SHERIDAN INC. come Statement Prepare a statement of changes in equity for the year. (If an amount reduces the account balance then enter with negative sign or parentheses e.g. (45) or -45.)