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The following income statement and additional year-end Information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $211,391 Depreciation expense 37,032 Rent expense 41,561 Amortization expenses-Patents 4,629 Utilities expense 16,973 $1,543,000 756,070 786,930 Gain on sale of equipment Net income 311,686 475,244 6,172 $ 481,416 Accounts receivable Inventory $11,600 increase 33,100 increase Accounts payable Salaries payable $9,725 decrease 4.000 decrease 5 Required information The following information applies to the questions displayed below! 100 The following information is available to reconcile Branch Company's book balance of cash with its bank statement cost balance as of July 31 On July 31, the company's Cash account has a $25,100 debit balance, but its July bank statement shows a $28,085 cash balance b. Check No: 3031 for $1.760, Check No 3065 for $656, and Check No 3069 for $2 528 are outstanding checks as of July 31 c. Chock No 3056 for July rent expense was correctly written and drawn for $1.220 but was erroneously entered in the accounting records as $1.210 d. The July bank statement shows the bank collected $8.000 cash on a note for Branch Branch had not recorded this event before receiving the statement e. The bank statement shows an $BOS NSF check The check had been received from a customer. Even Show. Branch has not yet recorded this check as NSF 1. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received 9. Branch's July 31 daily cash receipts of $9.132 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement Required