Required information Skip to question [The following information applies to the questions displayed below.] The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson Company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation ExpenseStore Equipment, Sales Salaries Expense, Rent ExpenseSelling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 20,200 Merchandise inventory 14,000 Store supplies 5,000 Prepaid insurance 2,600 Store equipment 42,700 Accumulated depreciationStore equipment $ 17,300 Accounts payable 15,000 Common stock 5,000 Retained earnings 29,000 Dividends 2,150 Sales 114,900 Sales discounts 1,950 Sales returns and allowances 2,100 Cost of goods sold 38,000 Depreciation expenseStore equipment 0 Sales salaries expense 14,400 Office salaries expense 14,400 Insurance expense 0 Rent expenseSelling space 7,000 Rent expenseOffice space 7,000 Store supplies expense 0 Advertising expense 9,700 Totals $ 181,200 $ 181,200 Additional Information: Store supplies still available at fiscal year-end amount to $2,250. Expired insurance, an administrative expense, is $1,450 for the fiscal year. Depreciation expense on store equipment, a selling expense, is $1,675 for the fiscal year. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,000 of inventory is still available at fiscal year-end.

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