The Cullumber Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CULLUMBER HOTEL Trial Balance May 31, 2022 Debit Credit Cash $2,313 Supplies 2,600 Prepaid Insurance 1,800 Land 14,813 Buildings 67,600 Equipment 16,800 Accounts Payable Unearned Rent Revenue Mortgage Payable $ 4,513 3,300 33,600 Common Stock 59,813 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $110,226 $110,226 Other data: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,200 of unused supplies on May 31. 3. (a) Annual depreciation is $3,000 on the building. 4. (b) Annual depreciation is $2,400 on equipment. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,650 has been earned. 6. Salaries of $690 are accrued and unpaid at May 31. Prepare an income statement for the month of May. CULLUMBER HOTEL Income Statement For the Month Ended May 31, 2022 $