Ayayai Ltd. is a private company reporting under ASPE. Its adjusted trial balance at its scal year end, December 31, 2021, is shown below: AYAYAI LT D. Adjusted Trial Balance December 31, 2021 Debit Credit Cash $26,000 Inventory 24,000 Supplies 4,000 Equipment 299,025 Accumulated depreciationequipment $55,000 Accounts payable 30,000 Income tax payable 8,500 Unearned revenue 20,000 Notes payable ($12,000 is due in 2022) 28,000 Preferred shares ($4 noncumulative, 1,000 issued) 40,000 Common shares (120,000 issued) 60,000 Retained earnings 70,000 Cash dividendspreferred 4,000 Cash dividendscommon 45,000 Sales 5 10,000 Cost of goods sold 155,000 Depreciation expense 18,000 Income tax expense 15,975 Insurance expense 7,500 Interest expense 1,500 Rent expense 31,500 Salaries expense 180,000 Supplies expense 10,000 $821,500 $821,500