Sheridan Store has located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the companys fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances.

Unadjusted

Adjusted

Unadjusted

Adjusted

Accounts Payable

$25,800$25,800

Notes payable

$35,500$35,500

Accounts Receivable

30,70030,700

Owners Capital

83,40083,400

Accumulated Depr.Equipment

33,00044,000

Owners Drawings

9,5009,500

Cash

25,00025,000

Prepaid Insurance

11,0003,100

Cost of Goods Sold

505,000505,000

Property Tax Expense

2,500

Freight-Out

5,6005,600

Property Taxes Payable

2,500

Equipment

145,000145,000

Rent Expense

15,00015,000

Depreciation Expense

11,000

Salaries and Wages Expense

96,00096,000

Insurance Expense

7,900

Sales Revenue

720,000720,000

Interest Expense

6,0006,000

Sales Commissions Expense

6,50011,000

Interest Revenue

2,1002,100

Sales Commissions Payable

4,500

Inventory

28,00028,000

Sales Returns and Allowances

8,0008,000

Utilities Expense

8,5008,500

SHERIDAN STORE Balance Sheet November 30, 2022 Assets Current Assets Cash $ Accounts Receivable Notes Payable Prepaid Insurance II HONO Total Current Assets $ Property, plant and Equipment Equipment Less :: Accumulated Depreciation-Equipment 0 Total Assets $ SHERIDAN STORE Balance Sheet November 30, 2022 Assets Current Assets Cash $ Accounts Receivable Notes Payable Prepaid Insurance II HONO Total Current Assets $ Property, plant and Equipment Equipment Less :: Accumulated Depreciation-Equipment 0 Total Assets $