Presented below is information related to Sheridan Corp. for the year $2025.$

Net sales

$$1,196,000$

Write$-$off of inventory due to obsolescence

$$73,600$

Cost of goods sold

$717,600$

Depreciation expense omitted by accident in $2024$

$50,600$

Selling expenses

$59,800$

Casualty loss

$46,000$

Administrative expenses

$44,160$

Cash dividends declared

$41,400$

Dividend revenue

$18,400$

Retained earnings at December $31,2024$

$901,600$

Interest revenue

$6,440$

Effective tax rate of $20\%$ on all items

$($a$)$

Prepare a multiple$-$step income statement for $2025.$ Assume that $69,920$ shares of common stock are outstanding for the entire year. $($Round earnings per share to $2$ decimal places, e$.$g$.1\mathrm{.}49.)$

SHERIDAN CORP.

Income Statement

choose the accounting period

For the Year Ended December $31,2025$

select an opening name for section one

Revenue

enter an income statement item

$enter a dollar amount

enter an income statement item

enter a dollar amount

select a summarizing line for the first part

enter a total amount for the first part

select an opening name for section two

enter an income statement item

$enter a dollar amount

enter an income statement item

enter a dollar amount

select a closing name for section two

enter a total amount for section two

select a summarizing line for the second part

enter a total amount for the second part

select an opening name for section three

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

enter a subtotal of the two previous amounts

enter a total amount for the third part

select an opening name for section four

enter an income statement item

enter a dollar amount

select an income statement item

enter a dollar amount

enter a subtotal of the two previous amounts

select a summarizing line for the fourth part

enter a total amount for all four parts

enter an income statement item

enter a dollar amount

select a closing name for this statement

enter a total net income or loss amount

select an income statement item

$enter a dollar amount rounded to $2$ decimal places

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$($b$)$

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