The following information was taken from Egeland Ltd's adjusted trial balance as at July 31, 2020: Sales revenue $2,809,000 Interest expense 40,000 Cost of goods sold 3,564,613 Utilities expense 14,000 Depreciation expense 218,000 Distribution expenses 418,000 Administration expenses 278,000 Advertising expense 60,000 Interest revenue 17,000 Income tax expense 69,000 Dividends declared-Common shares 29,000 Dividends declared-Preferred shares 14,387