Additional Problem 11 The information below relates to the operations of Sheridan Corporation, a private company following ASPE, for the year ended December 31, 2020: Cost of goods sold Interest expense Sales returns and allowances Accounts payable Sales discounts Depreciation expense Sales revenue Salaries and wages expense Prepaid expenses Rent expense Loss from fire $327,000 2,200 9,100 120,000 4,500 284,640 984,900 164,000 3,400 37,700 8,300 24,900 Rental revenue Additional information: The effective tax rate is 20%. Prepare a single-step income statement in good form by nature. (Round answers to O decimal places, e.g. 5,275.) Prepare a single-step income statement in good form by nature. (Round answers to 0 decimal places, e.g. 5,275.) Sheridan Corporation Income Statement For the year ended December 31, 2020 Total Revenues Net Sales