P4.8 The following account balances were included in the trial balance of Reid Corporation at June 30, 2020: Sales revenue $1,835,050 Telephone and Internet expense Cost of goods sold 1,071,770 (office) 2,820 Salaries and wages expense 56,260 Salaries and wages (office) 7,320 (sales) Sales commission expense 97,600 Supplies expense (sales) 4,850 Advertising expense (sales) 28,930 Repairs and maintenance expense (office) 9,130 Freight out 21,400 Depreciation understatement due to Entertainment expense (sales) 14,820 error-2018 (net of tax of 17,700 $3,300) Telephone and Internet expense 9,030 Miscellaneous expense (office) 6,000 (sales) Depreciation of sales equipment 4,980 Dividend revenue Repairs and maintenance Interest expense expense (sales) 6,200 Income tax expense 38,000 18,000 133,000 Miscellaneous expenses (sales) 4,715 Dividends declared on preferred Supplies expense (office) 3,450 shares 9,000 Depreciation expense on office Dividends declared on common furniture and equipment 7,250 shares 32,000