Account title Balance Accounts payable 22,000 Accounts receivable 12,700 Accumulated depreciation - building 19,500 Accumulated depreciation - equipment 22,000 Building 76,000 Cash 28,300 Common shares 30,000 Cost of goods sold 335,000 Deferred revenue 7,500 Depreciation expense 15,200 Dividends declared 20,000 Equipment 50,000 Income tax expense 5,300 Insurance expense 3,900 Interest expense 1,600 Interest income 3,300 Land 120,000 Mortgage payable 54,800 Prepaid insurance 1,800 Rent expense 46,700 Retained earnings, July 1 108,800 Salaries expense 96,300 Salaries payable 1,300 Sales 540,000 Supplies 900