An alphabetical list of Ivanhoes Company adjusted accounts at its fiscal year end, August 31, 2021, follows. All accounts have normal balances Accounts payable $42,000 $15,600 14,000 Notes payable Prepaid insurance Accumulated depreciation equipment 575 Accumulated depreciation-furniture 17,500 R. Smistad, capital 29,650 272,000 R. Smistad, drawings Rent expense 65,750 71,000 24,800 Cost of goods sold Depreciation expense 7,020 Salaries expense 51,000 Equipment 35,000 Salaries payable 2,250 Furniture 473,000 42,000 3,575 Sales Sales returns and allowances Insurance expense 16,300 950 Interest expense 2,130 575 Supplies Supplies expense Unearned revenue Interest payable 6,325 Merchandise inventory 70,950 2.600 Additional Information: 1. Of the notes payable, 56,100 becomes due on February 17, 2022. The balance is due in 2023 2. On July 18.2021. R. Smistad invested $4.500 cash in the business Income Statement IVANHOE COMPANY Statement of Owner's Equity e Textbook and Media IVANHOE COMPANY Balance Sheet Assets Liabilities and Owner's Equity e Textbook and Media