+ Ch 1 Homework Assignment Question 5 of 8 - / 10 View Policies Current Attempt in Progress Sandhill Company is owned by Irina Temelkova. The following information is an alphabetical listing of financial statement items for the company for the year ended May 31, 2021: Accounts payable Accounts receivable Advertising expense Building Cash Equipment 1. Temelkova, capital, June 1, 2020 1. Temelkova, drawings Insurance expense $47,500 43,600 5,620 124,000 28,300 553,100 291,680 35,400 2,540 Interest expense Investments by owner Maintenance expense Notes payable Other expenses Prepaid insurance Revenue Salaries expense Supplies $26.800 7,850 82,500 385,000 68,100 1,270 385,800 129,900 16,700 SANDHILL COMPANY Income Statement Year Ended May 31, 2021 Revenues $385,800 Expenses Salaries expense $129,900 Maintenance expense 82,500 Other expenses 68,100 Interest expense 26.800 Advertising expense 5,620 Insurance expense 2.540 Total expenses 315,460 Profit $70,340 + Ch 1 Homework Assignment Question 5 of 8 - / 10 Total expenses Profit 315,460 $70,340 SANDHILL COMPANY Statement of Owner's Equity Year Ended May 31, 2021 I. Temelkova, Capital, June 1, 2020 Add: Investments $7,850 Profit 70,340 $291.680 78,190 369,870 35,400 $334,470 Less: Drawings 1. Temelkova, Capital, May 31, 2021 Prepare the balance sheet. SANDHILL COMPANY Balance Sheet Assets $ > > + Ch 1 Homework Assignment Question 5 of 8 - / 10 SANDHILL COMPANY Balance Sheet Assets $ > $ $ Liabilities and Owner's Equity $ $