+ Ch 22: Homework Question 2 of 8 > - /1 E View Policies Current Attempt in Progress Sheffield Corp's income statement for the year ended December 31, 2020, had the following condensed information: $764.500 Service revenue Operating expenses (excluding depreciation) Depreciation expense Unrealized loss on FV-NI investments Loss on sale of equipment Income before income taxes Income tax expense Net income $490,000 61,000 4,500 13,000 568,500 196.000 54,000 $142.000 There were no purchases or sales of trading (FV-NI) investments during 2020. Sheffield's statement of financial position included the following comparative data at December 31: FV-Nl investments Accounts receivable Accounts payable Income tax payable 2020 $21,700 35,400 46,100 7,500 2019 $26,200 54,700 32,000 9,200 + Ch 22: Homework Question 2 of 8