These financial statement items are for Blossom Corporation at year-end, July 31, 2018:

Operating expenses $32,500 Interest payable $ 1,900 Salaries expense 43,700 Supplies expense 1,700 Unearned revenue 12,000 Dividends declared 12,000 Utilities expense 2,900 Depreciation expense 3,800 Equipment 61,200 Retained earnings, Aug. 1, 2017 21,940 Accounts payable 4,020 Rent expense 13,000 Service revenue 113,600 Income tax expense 5,500 Rent revenue 17,500 Supplies 1,600 Common shares 26,000 Held for trading investments 21,000 Cash 5,960 Bank loan payable (due Dec. 31, 2018) 24,800 Accounts receivable 20,600 Interest expense 2,900 Accumulated depreciation-equipment 6,600 Additional information: Blossom started the year with $17,000 of common shares and issued additional shares for $9,000 during the year