The following account balances were included in the trial balance of Waterway Corporation at June 30,...

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The following account balances were included in the trial balance of Waterway Corporation at June 30, 2025. Depreciation expense (office furniture and equipment) Sales revenue $2,096,900 Sales discounts 12,600 Property tax expense Cost of goods sold 1,503,500 Bad debt expense (selling) Salaries and wages expense (sales) 54,100 Maintenance and repairs expense (administration) Sales commissions 135,400 Office expense Travel expense (salespersons) 41.900 Sales returns and allowances Delivery expense 31,600 Dividends received Entertainment expense 22,100 Interest expense Telephone and Internet expense (sales)) 11,000 Income tax expense Depreciation expense (sales equipment) 3,600 Depreciation overstatement due to error-2023 (net of tax). Maintenance and repairs expense (sales) 2,600 Dividends declared on preferred stock Miscellaneous expenses (sales) 6,600 Dividends declared on common stock Office supplies used 3,100 Telephone and Internet expense (administration) 5,100 The Retained Earnings account had a balance of $492,000 at July 1, 2024. There have been 150,000 shares of common stock outstanding throughout the year. The following account balances were included in the trial balance of Waterway Corporation at June 30, 2025. Depreciation expense (office furniture and equipment) Sales revenue $2,096,900 Sales discounts 12,600 Property tax expense Cost of goods sold 1,503,500 Bad debt expense (selling) Salaries and wages expense (sales) 54,100 Maintenance and repairs expense (administration) Sales commissions 135,400 Office expense Travel expense (salespersons) 41.900 Sales returns and allowances Delivery expense 31,600 Dividends received Entertainment expense 22,100 Interest expense Telephone and Internet expense (sales)) 11,000 Income tax expense Depreciation expense (sales equipment) 3,600 Depreciation overstatement due to error-2023 (net of tax). Maintenance and repairs expense (sales) 2,600 Dividends declared on preferred stock Miscellaneous expenses (sales) 6,600 Dividends declared on common stock Office supplies used 3,100 Telephone and Internet expense (administration) 5,100 The Retained Earnings account had a balance of $492,000 at July 1, 2024. There have been 150,000 shares of common stock outstanding throughout the year.