Homework answers / question archive / Assets 2022 2021 Cash $ 70,750 $ 66,960 Debt investments (short-term) 55,000 40,000 Accounts receivable 103,000 90,000 229,000 169,000 Inventory Prepaid expenses 29,000 28,000 Land 132,000 132,000 Building and equipment (net) 259,000 184,000 Total assets $877,750 $709,960 Liabilities and Stockholders' Equity Notes payable Accounts payable $169,650 $102,000 65,000 53,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 251,000 170,000 Common stock, $10 par 200,000 200,000 Retained earnings 151,100 143,960 Total liabilities and stockholders' equity $877,750 $709,960 SHERIDAN COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $878,150 $783,200 Cost of goods sold 636,800 568,000 Gross profit 241,350 215,200 Operating expenses 188,661 160,376 Net income $ 52,689 $ 54,824 Additional information: 1

Assets 2022 2021 Cash $ 70,750 $ 66,960 Debt investments (short-term) 55,000 40,000 Accounts receivable 103,000 90,000 229,000 169,000 Inventory Prepaid expenses 29,000 28,000 Land 132,000 132,000 Building and equipment (net) 259,000 184,000 Total assets $877,750 $709,960 Liabilities and Stockholders' Equity Notes payable Accounts payable $169,650 $102,000 65,000 53,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 251,000 170,000 Common stock, $10 par 200,000 200,000 Retained earnings 151,100 143,960 Total liabilities and stockholders' equity $877,750 $709,960 SHERIDAN COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $878,150 $783,200 Cost of goods sold 636,800 568,000 Gross profit 241,350 215,200 Operating expenses 188,661 160,376 Net income $ 52,689 $ 54,824 Additional information: 1

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Assets 2022 2021 Cash $ 70,750 $ 66,960 Debt investments (short-term) 55,000 40,000 Accounts receivable 103,000 90,000 229,000 169,000 Inventory Prepaid expenses 29,000 28,000 Land 132,000 132,000 Building and equipment (net) 259,000 184,000 Total assets $877,750 $709,960 Liabilities and Stockholders' Equity Notes payable Accounts payable $169,650 $102,000 65,000 53,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 251,000 170,000 Common stock, $10 par 200,000 200,000 Retained earnings 151,100 143,960 Total liabilities and stockholders' equity $877,750 $709,960 SHERIDAN COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $878,150 $783,200 Cost of goods sold 636,800 568,000 Gross profit 241,350 215,200 Operating expenses 188,661 160,376 Net income $ 52,689 $ 54,824 Additional information: 1. 2. 3. Inventory at the beginning of 2021 was $115,000. Accounts receivable (net) at the beginning of 2021 were $88,000. Total assets at the beginning of 2021 were $638,000. No common stock transactions occurred during 2021 or 2022. All sales were on account. 4. 5. (21) Compute the liquidity and profitability ratios of Sheridan Company for 2021 and 2022. (Round current ratio, asset turnover and earnings per share to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 1.8%. If % change is a decrease show the numbers as negative, e.g.-1.83% or (1.83%).) 2022 2021 % Chan LIQUIDITY Current ratio :1 :1 Accounts receivables turnover times times Inventory turnover times times 2022 2021 % Change PROFITABILITY Profit margin % % Asset turnover times times Return on assets % % Earnings per share $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above.