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Presented below is information for Sheridan Company for the month of March 2019. $219,040 7,500 5,700 Rent expense Sales discounts Cost of goods sold Freight-out Insurance expense Salaries and wages expense $35,010 8,510 Sales returns and allowances 12,020 55,380 Sales revenue 387,050 Your answer is partially correct. Prepare a multiple-step income statement. (If there is a net loss then enter the amount using either a negative sign preceding the (45).) Dividends Retained Earnings, March 1 Sheridan Company Net Sales Gross Profit/ (Loss) Income Statement Retained Earnings, March 31 For the Month Ended March 31, 2019 Total Revenues Net Income / (Loss) Operating Expenses Total Expenses 207000 Total Operating Expenses ature Sales On September 1, Novak Office Supply had an inventory of 35 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 Sept. 9 Sept. 10 Sept. 12 Sept. 14 Sept. 20 Purchased with cash 85 calculators at $25 each from Larkspur, Inc.. Paid freight of $85 on calculators purchased from Larkspur, Inc.. Returned 5 calculators to Larkspur, Inc. for $130 cash (including freight) because they did not meet specifications. Sold 27 calculators costing $26 (including freight) for $32 each on account to Lee Book Store, terms n/30. Granted credit of $32 to Lee Book Store for the return of one calculator that was not ordered. Sold 31 calculators costing $26 for $33 each on account to Orr's Card Shop, terms n/30. Journalize the September transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Inventory Sept. 6 2125 Accounts Payable 2125