Problem 2 - 3A ( Part Level Submission )You are provided with the following information for Novak Corp . , effective as of its April 30 , 2017year-endAccounts payable$ 874Accounts receivable920Accumulated depreciation - equipment670Cash1.380Common stock170Cost of goods sold1.100Depreciation expense295Dividends365Equipmen2. 530Income tax expense205Income taxes payable175Insurance expense25 0Interest expense4 40Inventory1077Land7 270Mortgage payable3.610Notes payable171Prepaid insurance10 0Retained earnings ( beginning )1 600Salaries and wages expense650Salaries and wages payable262Sales revenue5 . 210Stock investments ( short - term )1 270