Accounts payable $36,500, Accounts receivable $46,500, Capital stock $100,000, Cash $46,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $3,500, Inventory $32,000, Note payable $30,000, Prepaid expenses $4,400,
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Sheridan Corporation had net sales of $2,414,200 and interest revenue of $35,800 during 2020. Expenses for 2020 were cost of goods sold $1,459,300, administrative expenses $221,600, selling expenses $284,400, and interest expense $54,200.
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