7 t2 of 2 The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson Company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 1,000 ts Merchandise inventory 12,500 Store supplies 5,800 Prepaid insurance 2,400 Store equipment 42,900 Accumulated depreciation-Store equipment $ 15,250 Accounts payable 10,000 eBook Common stock Retained earnings 5,000 27,000 Dividends 2,200 Sales 111,950 Print Sales discounts 2,000 Sales returns and allowances 2,200 Cost of goods sold 38,400 Depreciation expense-Store equipment 0 ferences Sales salaries expense 17,500 Office salaries expense 17,500 Insurance expense 0 Rent expense-Selling space 7,500 7,500 0 9,800 Rent expense-Office space Store supplies expense Advertising expense Totals Additional Information: $ 169,200 $ 169,200 a. Store supplies still available at fiscal year-end amount to $1,750. b. Expired insurance, an administrative expense, is $1,400 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,525 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,900 of inventory is still available at fiscal year-end.