The Sheridan Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. SHERIDAN HOTEL Trial Balance May 31, 2022 Debit Credit Cash $2,573 Supplies 2,600 Prepaid Insurance 1,800 Land 15.073 Buildings 67,600 Equipment 16,800 Accounts Payable $4,773 Unearned Rent Revenue 3,300 Mortgage Payable 33,600 Common Stock 60,073 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Utilities Expense Advertising Expense Other data: 800 500 $110,746 $110,746 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $3,840 on the building. 4. (b) Annual depreciation is $3,240 on equipment. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,500 has been earned. 6. Salaries of $890 are accrued and unpaid at May 31. Current Assets Assets Cash Supplies Prepaid Insurance Total Current Assets Property, Plant and Equipment Land Buildings ess : Accumulated Depreciation-Buildings Equipment Less Total Assets 67600 320 i 16800 Accumulated Depreciation-Equipment 270 i A 2573 1050 1350 15073 Total Stockholders' Equity Total Liabilities and Stockholders' Equity SA $ 60073