Presented below is the trial balance of Pearl Corporation at December 31, 2017 PEARL CORPORATION TRIAL BALANCE DECEMBER 31, 2017 Debits Credits Purchase Discounts Cash Accounts Receivable Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable Accounts Payable Accumulated Depreciation Sales Discounts Sales Returns and Allowances Notes Payable Selling Expenses Administrative Expenses Common Stock Income Tax Expense Cash Dividends Allowance for Doubtful Accounts Supplies Freight-in Land Equipment Bonds Payable Gain on Sale of Land Accumulated Depreciation Inventory Buildings Purchases Totals $11,770 $191,470 106,770 19,770 161,770 19,770 1,101,770 111,770 50,770 28,354 -Equipment 16,270 19,270 71,770 233,770 100,770 301,770 55,670 46,770 6,770 15,770 21,770 71,770 141,770 109,912 31,770 19,954 -Buildings 90,770 99,770 611,770 $1,935,920 $1,935,920 A physical count of inventory on December 31 resulted in an inventory amount of $65,770; thus, cost of goods sold for 2017 is $646,770