The following account balances were included in the trial balance of ACE Inc at December 31, 2016. Sales revenue Dividends on ordinary shares Unearned revenue Investment revenue Accounts receivable Cost of goods sold Sales returns and allowances Retained earnings Selling expenses Administrative expenses Sales discounts Interest expense Machinery Accumulated depreciation - machinery Loss on disposal of a component of the business Depreciation understatement due to error-2013 Major casualty loss (extraordinary item) The University of the West Indies Page 2 $945,000 5,400 50,000 19,500 17,000 408,500 12,500 20,000 132,500 210,000 5,000 13,000 47,000 11,000 30,000 7,000 70,000 TURN OVER QUESTION 1 (Continued) Additional information: All of the above accounts had their normal debit or credit balances. This is a partial trial balance and therefore total debits and credits do not equal to zero (0). The company's income tax rate is 30%. Assume that all income items are fully taxable or deductible for income tax purpo