The following account balances were included in the trial balance of Wildhorse Corporation at June 30, 2017. Sales revenue $1,588,850 Depreciation expense (office furniture and equipment) $7,509 Sales discounts 31,500 Property tax expense 7,157 Cost of goods sold 905,200 Bad debt expense (selling) 5,267 Salaries and wages expense (sales) 57,360 Maintenance and repairs expense (administration) 9,263 Sales commissions 99,490 Office expense 6,490 Travel expense (salespersons) 33,800 Sales returns and allowances 59,921 Delivery expense 22,030 Dividends received 37,150 Entertainment expense 15,000 Interest expense 19,390 Telephone and Internet expense (sales) 9,200 Income tax expense 99,790 Depreciation expense (sales equipment) 4,659 Depreciation understatement due to error2014 (net of tax) 18,083 Maintenance and repairs expense (sales) 5,870 Dividends declared on preferred stock 8,500 Miscellaneous selling expenses 5,176 Dividends declared on common stock 37,570 Office supplies used 3,606 Telephone and Internet expense (administration) 2,678 The Retained Earnings account had a balance of $338,360 at July 1, 2016. There are 87,330 shares of common stock outstanding.