\begin{tabular}{lr} Wages payable & 7,400 \\ \hline Ending retained earnings balance (2023) & 21,900 \end{tabular} Sunland Co. Statement of Income $ $ The following are account balances at the end of December 2024 for Sunland Co. \begin{tabular}{lr} Cost of goods sold & $104,000 \\ \hline Common shares & 35,000 \\ \hline Advertising expense & 5,700 \\ \hline Equipment & 13,200 \\ \hline Depreciation expense & 1,320 \\ \hline Dividends declared & 3,500 \\ \hline Accounts payable & 11,100 \\ \hline Inventory & 23,600 \\ \hline Wages expense & 30,300 \\ \hline Sales revenue & 167,600 \\ \hline Accounts receivable & 11,900 \\ \hline Rent expense & 13,500 \\ \hline Cash & 30,880 \\ \hline Prepaid rent & 5,100 \end{tabular}