Salaries and wages payable Salaries and wages expense Utilities expense Equipment E4.17 (LO 4), AP These financial statement items are for Norsted Company at year-end, July 31, 2022. Notes payable (long-term) Accounts receivable Accumulated depreciation-equipment $ 2,080 $ 1,800 51,700 Cash 14,200 22,600 9,780 30,400 6,000 Accounts payable 4,100 Dividends 3,000 Service revenue 62,000 Depreciation expense 4,000 Rent revenue 8,500 Retained earnings (beginning of the year) 21,200 Common stock 30,000 Instructions a. Prepare an income statement and a retained earnings statement for the year. b. Prepare a classified balance sheet at July 31.