Sheridan Corporation began operations January 1, 2022. Given the below information for Sheridan Corporation: Cash Sheridan...

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Sheridan Corporation began operations January 1, 2022. Given the below information for Sheridan Corporation: Cash Sheridan Corporation Statement of Financial Position December 31 Accounts Receivable Inventory Total Current Assets Property, Plant & Equipment Total Assets Accounts Payable Deferred Revenue 2023 $14,700 23,200 14,400 52,300 63,100 115,400 9,200 15,500 2022 $10,200 20.700 16,400 47,300 63,100 110,400 10,700 18,200 Note Payable (due 2026) Total Liabilities Common Shares Retained Earnings Shareholders' Equity Total Liabilities & Equity 47,800 72,500 20,000 22,900 47,800 76,700 20,000 13,700 42,900 33,700 115,400 110,400 Sheridan Corporation Statement of Income For the year ending December 31 Sales Cost of goods sold Gross margin Operating expenses Interest expense Income before income tax Income tax expense Net income 2023 $214,600 135,300 79,300 63,600 5,100 10,600 2,120 8,480 2022 $125,400 78,300 47,100 22,700 2,300 22,100 4,420 17,680 Calculate debt-to-total assets ratios. (Round answers to 2 decimal places, e.g. 15.25%) Debt-to-total assets ratios 2023 The debt-to-total assets ratio has 2022 Identify for each whether or not there has been a year-over-year improvement or deterioration. year-over-year indicating % Sheridan Corporation began operations January 1, 2022. Given the below information for Sheridan Corporation: Cash Sheridan Corporation Statement of Financial Position December 31 Accounts Receivable Inventory Total Current Assets Property, Plant & Equipment Total Assets Accounts Payable Deferred Revenue 2023 $14,700 23,200 14,400 52,300 63,100 115,400 9,200 15,500 2022 $10,200 20.700 16,400 47,300 63,100 110,400 10,700 18,200 Note Payable (due 2026) Total Liabilities Common Shares Retained Earnings Shareholders' Equity Total Liabilities & Equity 47,800 72,500 20,000 22,900 47,800 76,700 20,000 13,700 42,900 33,700 115,400 110,400 Sheridan Corporation Statement of Income For the year ending December 31 Sales Cost of goods sold Gross margin Operating expenses Interest expense Income before income tax Income tax expense Net income 2023 $214,600 135,300 79,300 63,600 5,100 10,600 2,120 8,480 2022 $125,400 78,300 47,100 22,700 2,300 22,100 4,420 17,680 Calculate debt-to-total assets ratios. (Round answers to 2 decimal places, e.g. 15.25%) Debt-to-total assets ratios 2023 The debt-to-total assets ratio has 2022 Identify for each whether or not there has been a year-over-year improvement or deterioration. year-over-year indicating %

Answer rating: 100% (QA)

Answer Dest to total Assest ratio Total Debt Total Assest F... View the full answer