Problem 4-4 The following account balances were included in the trial balance of Larkspur Corporation at June 30, 2017. Sales revenue Sales discounts Cost of goods sold Salaies and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,589,100 32,320 903,300 57,960 98,100 34,000 23,400 15,050 9,090 $7,364 7,162 5,229 8,940 6,140 62,236 39,100 18,310 92,300 5,162Depreciation understatement due to error-2014 (net of tax) 17,506 9,280 37,000 Depreciation expense (office furniture and equipment) Property tax expense Bad debt expense (selling) Maintenance and repairs expense (administration) Office expense Sales returns and allowances Dividends received Interest expense Income tax expense 5,990 5,066 3,460 3,018 Dividends declared on preferred stock Dividends declared on common stock The Retained Earnings account had a balance of $331,960 at July 1, 2016. There are 82,400 shares of common stock outstanding