The following items and amounts were taken from Sheridan Company's 2022 income statement and balance sheet, the end of its first year of operations. Interest expense Interest payable Notes payable Sales revenue Cash Salaries and wages expense $2,900 Equipment, net $ 56,800 650 Depreciation expense 3,200 12,000 Supplies 4,000 49,600 Common stock 26,750 3,900 Retained earnings 17,400 Supplies expense 800 (a) Your answer is correct. In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Expense Interest expense Liability Interest payable Liability Notes payable Revenue Sales revenue Asset Cash Prepare an income statement for Sheridan Company for December 31, 2022. Sheridan Company Income Statement