The following information is available for Sheridan Inc.
Accounts receivable
$2,208
Cash
$5,750
Accounts payable
3,404
Supplies
3,458
Interest payable
536 Unearned service revenue
782
Salaries and wages expense
4,140
Service revenue
37,644
Notes payable
28,980
Salaries and wages payable
686
Common stock
46,644
Depreciation expense
614
Inventory
2,614
Equipment (net)
99,544
Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount.)
(List Assets in order of liquidity.)
Sheridan, Inc.
Balance Sheet
December 31, 2022
Assets