The following account balances were included in the trial balance of Twain Corporation at June 30, 2025. Sales revenue $1,578,500 Depreciation expense (office furniture and equipment) $7,250 Sales discounts 31,150 Property tax expense 7,320 Cost of goods sold 896,770 Bad debt expense (selling) 4,850 Salaries and wages expense (sales) 56,260 Maintenance and repairs expense (administration) 9,130 Sales commissions 97,600 Office expense 6,000 Travel expense (salespersons) 28,930 Sales returns and allowances 62,300 Delivery expense 21,400 Dividends revenue 38,000 Entertainment expense 14,820 Interest expense 18,000 Telephone and Internet expense (sales) 9,030 Income tax expense 102,000 Depreciation expense (sales equipment) 4,980 Depreciation understatement due to error-2025 (net of tax) 17,700 Maintenance and repairs expense (sales) 6,200 Dividends declared on preferred stock 9,000 Miscellaneous selling expenses 4,715 Dividends declared on common stock 37,000 Office supplies used 3,450 Telephone and Internet expense (administration) 2,820 The Retained Earnings account had a balance of $337,000 at July 1, 2024. There are 80,000 shares of common stock outstanding.