Problem 24-04 a-b Presented below is the comparative balance sheet for Sheridan Company. Sheridan Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021 2022 Assets Cash $179,600 $276,900 Accounts receivable (net) 219,100 154,800 Short-term investments 267,700 149,700 Inventories 1,059,400 974,700 Prepaid expenses 25,000 25,000 Plant & equipment 2,578,600 1,939,200 Accumulated depreciation (1,002,900) (749,400) $3,326,500 $2,770,900 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $50,400 170,000 450,000 2,089,800 566,300 $3,326,500 $75,700 201,100 191,900 1,773,500 528,700 $2,770,900 Prepare a comparative balance sheet of Sheridan Company showing the percent each item is of the total assets or total liabilities and stockholders' equity. 2.25%.) 2020 Assets Cash Accounts receivable (net) Short-term investments SHERIDAN COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 2021 $179,600 $276,900 219,100 154,800 267,700 149,700 1,059,400 974,700 25,000 25,000 2,578,600 % 1,939,200 (1,002,900) % (749,400) $3,326,500 % $2,770,900 Inventories Prepaid expenses Plant and equipment Accumulated depreciation Total % Liabilities and Stockholders' Equity Accounts payable $50,400 Accrued expenses 170,000 Bonds payable 450,000 Capital stock 2,089,800 Retained earnings 566,300 Total $3,326,500 $75,700 201,100 191,900 1,773,500 528,700 $2,770,900 % % Prepare a comparative balance sheet of Sheridan Company showing the dollar change and the percent change for each item. percentages with either a negative sign, i.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25).) Assets Cash Accounts receivable (net) Investments Inventories Prepaid expenses Plant and equipment Accumulated depreciation SHERIDAN COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 Increase or Decrease 2021 2020 $ Change % Change $179,600 $276,900 219,100 154,800 267,700 149,700 1,059,400 974,700 25,000 25,000 2,578,600 1,939,200 (1,002,900 ) (749,400 ) $3,326,500 $2,770,900 Total Liabilities and Stockholders' Equity Accounts payable $50,400 Accrued expenses 170,000 Bonds payable 450,000 Capital stock 2,089,800 Retained earnings 566,300 Total $3,326,500 $75,700 201,100 191,900 1,773,500 528,700 $2,770,900