See below. Thank you!

Accounting Cycle Review 15 a-e Sandhill Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Debit Credit $26,500 56,000 23,000 68,000 98,600 33,000 $410 31,500 14,200 19,400 -0- -0- 7,200 50,000 30,000 Cash Accounts Receivable Inventory Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accounts Payable Interest Payable Dividends Payable Unearned Rent Revenue Bonds Payable (10%) Common Stock ($10 par) Paid-in Capital in Excess of Par-Common Stock Preferred Stock ($20 par) Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Stock Cash Dividends Sales Revenue Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense Total 6,000 -0- -0- 80,190 -0- -0- 568,000 -0- -0- 401,000 -0- 36,300 64,500 5806,900 5806,900 Unrecorded transactions and adjustments: 1. On January 1, 2020, Sandhill issued 1,000 shares of $20 par, 6% preferred stock for $22,000. 2. On January 1, 2020, Sandhill also issued 1,200 shares of common stock for $27,600. 3. Sandhill reacquired 320 shares of its common stock on July 1, 2020, for $45 per share. 4. On December 31, 2020, Sandhill declared the annual cash dividend on the preferred stock and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2021. 5. Sandhill estimates that uncollectible accounts receivable at year-end is $5,600. 6. The building is being depreciated using the straight-line method over 30 years. The salvage value is 54,100. 7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,300. 8. The unearned rent was collected on October 1, 2020. It was receipt of 4 months' rent in advance (October 1, 2020 through January 31, 2021). 9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded. (Ignore income taxes.) 1. Cash 22000 Paid-in Capital in Excess of Par-Preferred Stock 2000 Preferred Stock 20000 2. Cash 27600 Paid-in Capital in Excess of Par-Common Stock 15600 Common Stock 12000 3. Treasury Stock 14720 Cash 14720 4. Cash Dividends 5856 Dividends Payable 5856 5. Bad Debt Expense 5190 Allowance for Doubtful Accounts 5190 6. Depreciation Expense 3150 Accumulated Depreciation-Buildings 3150 7. Depreciation Expense 2970 Accumulated Depreciation-Equipment 2970 8. Unearned Rent Revenue 5400 Rent Revenue 5400 9. Interest Expense 5000 Interest Payable 5000 SANDHILL CORPORATION Trial Balance December 31, 2020 Debit Credit Cash 61380 $ Accounts Receivable 56000 Allowance for Doubtful Accounts Inventory 23000 x Land x Buildings X Equipment x Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accounts Payable X Interest Payable Dividends Payable Unearned Rent Revenue x Bonds Payable Common Stock Paid-in Capital in Excess of Par-Common Stock [x] Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Stock xww Cash Dividends Sales Revenue THULUUTTUU buldu! Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense x SANDHILL CORPORATION Income Statement Sales Revenue 568000 x X X Operating Expenses Bad Debt Expense 5190 x Depreciation Expense 6120 12 Other Operating Expenses Prepare a retained earnings statement for the year ending December 31, 2020. (List items that increase retained earning first.) SANDHILL CORPORATION Retained Earnings Statement X x SANDHILL CORPORATION Balance Sheet Assets $ X X X mu ILI O DOC CH 10 X Liabilities and Stockholders' Equity Current Liabilities Accounts Payable 19400 S Interest Payable 5000 Dividends Payable 5856 Unearned Rent Revenue 1800 Total Current Liabilities 32056 Long-term Liabilities Bonds Payable 50000 Total Liabilities 82056 Stockholders' Equity X X x x Click if you would like to Show Work for this question: Open Show Work