Sandhill Travel Court was organized on July 1, 2024, by Betty Johnson. Betty is a good manager but a poor accountant. From the trial balance prepared by a part-time bookkeeper, Betty prepared the following income statement for her fourth quarter, which ended June 30, 2025. Revenues Sandhill Travel Court Income Statement For the Quarter Ended June 30, 2025 Rent revenue Operating expenses Advertising expense Salaries and wages expense Utilities expense Depreciation expense Maintenance and repairs expense Total operating expenses Net income Supplies Prepaid Insurance Notes Payable $9,075 $4,400 14,500 82,070 14,200 920 2,795 4,410 Betty suspected that something was wrong with the statement because net income had never exceeded $30,000 in any one quarter. Knowing that you are an experienced accountant, she asks you to review the income statement and other data. $219,100 You first look at the trial balance. In addition to the account balances reported above in the income statement, the trial balance contains the following additional selected balances at June 30, 2025. 94,595 $124,505