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You are presented with the following alphabetical list of accounts and balances in thousands) for Sheridan Enterprises Inc. at June 30, 2018. All accounts have

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You are presented with the following alphabetical list of accounts and balances in thousands) for Sheridan Enterprises Inc. at June 30, 2018. All accounts have a normal balance. S Accounts payable 3,70 Income tax payable 100 Accounts receivable 3,10 0 Interest expense 100 4,30 0 7,40 Land 0 Accumulated depreciation buildings Accumulated depreciation- equipment 1,10 3,70 Long-term investments 0 Buildings Inventory 4,60 0 15,9 Cash Mortgage payable, due 2025 300 00 3,60 5,40 Common shares Office expense 0 15,0 Cost of goods sold Prepaid insurance 800 Dividends declared 5,70 Retained earnings Equipment 23,7 Sales 00 1,20 Income tax expense Cost of goods sold Prepaid insurance 800 5,70 Dividends declared Retained earnings Equipment Sales 23,7 00 Income tax expense In addition to this information, common shares in the amount of $2,300 were issued during the year and $1,100 of the mortgage is currently due. a) Prepare an income statement for the year. b) Prepare a statement of changes in equity for the year. c) Prepare a statement of financial position for the year. Sheridan Enterprises Inc. Income Statement Year Ended June 30, 2018 / / 1 / . Sheridan Enterprises Inc. Statement of Changes in Equity . . .... Sheridan Enterprises Inc. Statement of Changes in Equity Year Ended June 30, 2018 Sheridan Enterprises Inc. Statement of Financial Position As at June 30, 2018

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