The Ivanhoe Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. IVANHOE HOTEL Trial Balance May 31,2022 Debit Credit $2,433 Cash Supplies 2,600 1,800 Prepaid Insurance Land 14,933 Buildings 67,600 Equipment 16,800 Accounts Payable $4,633 Unearned Rent Revenue 3,300 Mortgage Payable 33,600 Common Stock 59,933 9,000 Rent Revenue Salaries and Wages Expense 3,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $110,466 $110,466 Other data: Insurance expires at the rate of $450 per month. 1. A count of supplies shows $1,080 of unused supplies on May 31. 2. (a) Annual depreciation is $3,960 on the building. 3. (b) Annual depreciation is $3,360 on equipment. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 4. Unearned rent of $2,570 has been earned 5. Salaries of $790 are accrued and unpaid at May 31. 6. IVANHOE HOTEL Balance Sheet May 31, 2022 Assets Current Assets Cash $ Supplies Prepaid Insurance Total Current Assets Property, Plant and Equipment Land Buildings $ Less Accumulated Depreciation-Buildings IVANHOE HOTEL Balance Sheet May 31, 2022 Assets $ $ $ tion-Buildings Land $ Buildings Accumulated Depreciation- Buildings Less Equipment Less Accumulated Depreciation-Equipment Total Assets Liabilities and Stockholders' Equity Current Liabilities $ Accounts Payable Unearned Rent Revenue Mortgage Payable Interest Payable $ tion-Buildings tion-Equipment $ Liabilities and Stockholders' Equity $ Interest Payable Total Current Liabilities Total Liabilities Common Stock Stockholders' Equity Total Stockholders' Equity Retained Earnings $ $