Listen On May 1, 2021, Pan-Am School Ltd. was formed. Its assets, liabilities, share capital, revenues, expenses, and dividends as at May 31 follow: Cash Accounts receivable Supplies Equipment Accounts payable Bank loan payable Common shares Service revenue Interest expense Rent expense $ 26,900 22,600 15,000 372,500 6,400 241,000 180,000 215,300 12,500 12,100 Repairs and maintenance expense 40,900 Fuel expense 85,400 Office expense 12,700 Salaries expense 36,600 Income tax expense 2,800 Dividends declared 2,700