Required information E4-2 (Algo) Identifying Adjustments and Preparing Financial Statements from a Trial Balance [LO 4-1, LO 4-4] [The following information applies to the questions displayed below.] Time Corporation reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. Time Corporation Adjusted Trial Balance. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Depreciation Expense Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable At May 31, 2019 (millions of dollars) Debit Credit $ 3,000 $ 5,100 19,700 5,000 2,800 2,500 180 38,300 3,900 950 950 110 Interest Revenue Notes Payable (long-term) Notes Payable (short-term) 20 30 7,800 350 Office Expenses 7,550 Prepaid Rent 900 Rent Expense 2,600 Repairs and Maintenance Expense 2,000 Retained Earnings 17,040 Salaries and Wages Expense 16,700 Salaries and Wages Payable 1,800 44,800 Service Revenue Supplies Transportation Expense 460 12,000 $ 98,270 $ 98,270