The Lily Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year. February 28, 2021: Accounts payable 13,700 Income tax payable 4,300 Accounts receivable 27,600 Insurance expense 3,300 Accumulated depreciation-equipment 5,600 Prepaid insurance 3,000 Cash 18,500 Rent expense 5,800 Common shares 6,730 Retained earnings 21.370 Depreciation expense 4,600 Salaries expense 44,350 Dividends declared 1.900 Salaries payable 2.550 Equipment 23.400 Supplies 400 Fees earned 89,600 Supplies expense 4,000 Income tax expense 4,700 Utilities expense 2.300 Revenues Fees Earned Expenses Salaries Expense Supplies Expense Rent Expense Utilities Expense LILY CORPORATION Statement of Income Year Ended February 28, 2021 $ 44,350 4000 5.800 2.300 89600 LING 235 PM Depreciation Expense Insurance Expense 4,600 3,300 i Total expenses income before income tax Income Tax Expense Net income 64.350 i 153,950 4,700 158,650 List of Accounts Attempts: 2 of 2 used Balance, March 1,2020 Statement of Changes in Shareholders' Equity Year Ended February 28, 2021 Common Shares Retained Earnings Total Equity Issued common shares Net income Dividends Declared. Balance, February 28.2021 v List of Accounts $ $