The Sandhill Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. SANDHILL HOTEL Trial Balance May 31, 2022 Debit Credit Cash $ 2,523 Supplies 2,600 Prepaid Insurance 1,800 Land 15,023 Buildings 72,400 Equipment 16,800 Accounts Payable $ 4,723 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 60,023 Rent Revenue 9,000 Salaries and Wages Expense 3.000 Utilities Expense 800 Advertising Expense 500 $115,446 $115,446 Other data: 1. Insurance expires at the rate of $300 per month. A count of supplies shows $1,190 of unused supplies on May 31. 2. 3. (a) Annual depreciation is $3,240 on the building. (b) Annual depreciation is $2,640 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,600 has been earned. 6. Salaries of $770 are accrued and unpaid at May 31. Prepare a retained earnings statement for the month of May. SANDHILL HOTEL Retained Earnings Statement $ $ SANDHILL HOTEL Balance Sheet Assets $ $ $ $ Liabilities and Stockholders' Equity $ $ $