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The Concord Corporation is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the

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The Concord Corporation is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances. All accounts balances are normal. Unadjusted Adjusted Unadjusted Adjusted Accounts Payable $ 25,000 $ 25,000 Inventory $ 29,000 $ 29,000 30,300 30,300 Notes payable 36,500 36,500 Accounts Receivable Accumulated Depr.-Equipment 35,000 46,000 Prepaid Insurance 10,500 3,400 Cash 26.000 26,000 Property Tax Expense 2,500 Common Stock 40,200 40,200 Property Taxes Payable 2,500 Cost of Goods Sold 509,000 509,000 Rent Expense 17,000 17,000 Dividends 10,500 10,500 Retained Earnings 61,700 61,700 5,000 5,000 Salaries and Wages Expense 94,900 94.900 146,500 146,500 Sales Commissions Expense 6.500 11,000 Freight-Out Equipment Depreciation Expense Insurance Expense Interest Expense 11,000 4,500 7,100 Sales Commissions Payable Sales Returns and Allowances Sales Revenue 7.800 7.800 6,200 6,200 700.000 700,000 Interest Revenue 9,000 9,000 Utilities Expense 8,200 8.200 The Concord Corporation Balance Sheet Assets $ >

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