he following selected accounts and their current balances appear in the ledger of Clairemont Co, for the fiscal year ended May 31, 2018: Cash $ 240,000 966,000 1,690,000 22,500 13,500 8,000 830,000 Accounts receivable Inventory Estimated returns inventory Office supplies Prepaid insurance Office equipment Accumulated depreciation office equipment Store equipment Accumulated depreciation-store equipment Accounts payable Customer refunds payable Salaries payable Note payable (final payment due 2024) 550,000 3,600,000 1,820,000 326,000 40,000 41,500 300,000 300,000 Note payable (final payment due 2024) Common stock Retained earnings 500,000 2,949,100 Dividends 100,000 11,343,000 7,850,000 916,000 < Sales Cost of goods sold Sales salaries expense Advertising expense Depreciation expense-store equipment Miscellaneous selling expense Office salaries expense 550,000 140,000 38,000 650,000 Rent expense 94,000 Depreciation expense-office equipment 50,000 48,000 28,100 Insurance expense Office supplies expense Miscellaneous administrative expense Interest expense 14,500 21,000 Retained Earnings Statement Score: 26/45 Clairemont Company Retained Earnings Statement For the Year Ended May 31, 2018 1 Retained earnings, June 1, 2017 $2,949,100.00 2 Net income $943,400.00 3 2,005,700.00 4 Dividends 100,000.00 5 Retained earnings, May 31, 2018 $3,792,500.00 Clairemont Company Score: 98/233 Balance Sheet (Label 1 Assets 2 Current assets: 3 Cash $240,000.00 4 Accounts receivable 966,000.00 5 6 7 8 9 Shaded celsh Balance Sheet Shaded cells ha 10 (Label) 12 13 14 15 Total current assets 2.060,000.00 16 Total assets $5,000,000.00 17 Liabilities 18 Current liabilities: $366,000.00 19 Accounts payable 20 Salaries payable 41,500.00 21 Note payable (current portion) 50,000.00 Balance Sheet Shaded cells have Shaded cells have 41,500.00 20 Salaries payable 21 Note payable (current portion) 22 Total current liabilities 50,000.00 23 Total current liabilities 5457.500.00 < 24 Long-term liabilities: 25 Note payable (current portion) 26 Current liabilities 250,000.00 $250,000.00 27 Stockholders' Equity 28 Common stock $500,000.00 29 Retained earnings 3,792,500.00 30 Total stockholders' equity 4.292,500.00 31 Total liabilities and stockholders' equity $5,000,000.00