Elegant Steak and Rice

1 (1 1/2 pound) tenderized boneless beef round steak
1 1/2 tablespoons vegetable oil
2 large. onions, cut into 1/2 inch slices, separated into rings
1 (4 ounce) can sliced mushrooms (drain, reserve liquid)
1 (10 3/4 ounce) can condensed cream of mushroom soup
1/2 cup dry sherry *
1 1/2 teaspoons garlic salt
3 cups hot cooked rice

Cut steak into thin strips.

In a large skillet, brown meat in oil. Add onions. Saut