Kieso, Intermediate Accounting, 16e Gradebook ORION Downloadable eTextbook ment Problem 4-4 The following Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons Delivery expense Entertainment expense Telephone and Internet expense (sales) Deprecdation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) account balances were included in the trial balance of Cheyenne Corporation at June 30, 2017 Depreciation expense (office furniture and equipment) Property tax expense $7,509 7,157 5,267 9,263 6,490 59,921 37,150 19,390 99,790 18,083 8,500 37,570 $1,588,850 31,500 905,200Bad debt expense (selling) 57,360 99,490 33,800 22,030 15,000 9,200 4,659 5,870 5,176 3,606 2,678 Maintenance and repairs expense (administration) Office expense Sales returns and allowances Dividends received Interest expense Income tax expense Depreciation understatement due to error-2014 (net of tax) Dividends declared on preferred stock Dividends declared on common stock The Retained Earnings account had a balance of $338,360 at July 1, 2016. There are 87,330 shares of common stock outstanding an income statement for the year ended June 30, 2017. (Round earnings per share to 2 decimal plac CHEYENNE CORPORATION Income Statement ll Rights Reserved. A Division of John Wley &So0 s