Sheffield Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company's fiscal year on November 30, 2022, its accounting records included the following accounts and adjusted balances. Accounts Payable $30,552 Accounts Receivable 19,608 Accumulated Depreciation-Equipment 77,520 Advertising Expense 38,190 Cash 9,120 Common Stock 39,900 Cost of Goods Sold 700,302 Freight-Out 7,068 Equipment 178,980 Depreciation Expense 15,390 Dividends 13,680 Gain on Disposal of Plant Assets 2,280 Income Tax Expense 11,400 Insurance Expense 10,260 Interest Expense 5,700 Inventory 29,868 Notes Payable 49,590 Prepaid Insurance 6,840 Rent Expense 38,760 Retained Earnings 16,188 Salaries and Wages Expense 133,380 Salaries and Wages Payable 6,840 Sales Returns and Allowances 22,800 Sales Revenue 1,030,560 Utilities Expense 12,084 Additional data: Notes payable are due in 2026.