Additional information:

New plant assets costing $$79,400$ were purchased for cash during the year.

Old plant assets having $an$ original cost $of$ $$45,300$ and accumulated depreciation $of$ $$34,900$ were sold for $$2,900$ cash.

Bonds payable matured and were paid off $at$ face vlaue for cash.

A cash dividend $of156000$ was declared and paid during the year. Condensed financial data $of$ Sheridan Company follow. uestion $1of4$

Sheridan Company

Income Statement

For the Year Ended December $31,2022$

Sales revenue

$$391,900$

Less: $$ Additional information:

New plant assets costing $$79,400$ were purchased for cash during the year.

Old plant assets having $an$ original cost $of$ $$45,300$ and accumulated depreciation $of$ $$34,900$ were sold for $$2,900$ cash.

Bonds payable matured and were paid off $at$ face value for cash.

A cash dividend $of$ $$15,600(15,000).$