Question 21 Sandhill Co. is owned by Irina Temelkova. The following information is an alphabetical listing of financial statement Items for the company for the year ended May 31, 2021: Accounts payable $47,500 Interest expense $26,800 Accounts receivable 43,600 Investments by owner 7,850 Advertising expense 5,620 Maintenance expense 82,500 Building 124,000 Notes payable 385,000 Cash 28,300 Other expenses 68,100 Equipment 553,100 Prepaid insurance 1,270 I. Temelkova, capital, June 1, 2020 291,680 Revenue 385,800 1. Temelkova, drawings 35,400 Salaries expense 129,900 Insurance expense 2,540 Supplies 16,700 Prepare an income statement for the year. SANDHILL CO. Income Statement 8