G27y-03 company began operations in 2022. During 2022, G27y-03 Company recorded the following transactions: 1. On May 1, G277-03 Company sold common stock to owners for $225, 300 cash. 2. On June 1, G27y-03 Company borrowed $153,400 from the local bank on an 11-month, 12% note payable. 3. On August 1, G27y-03 Company paid $55,000 cash to purchase inventory. 4. On September 1, G27y-03 Company purchased a one-year insurance policy costing $30,360. During 2023, G277-03 Company entered into the following transactions: 1. On March 1, G277-03 Company sold one-half of the inventory that was purchased on August 1, 2022 for $62,000 cash. 2. On May 1, G27y-03 Company paid its stockholders a $28,000 dividend. 3. on September 1, G27y-03 Company paid $31,320 to renew its insurance policy for another one year. Calculate the amount of total expenses reported on G277-03 Company's 2023 income statement