These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages payable $2,510 Salaries and wages expense 50,000 Utilities expense 23,900 Equipment 20,900 Accounts payable 5,000 Service revenue 60,200 Rent revenue 8,200 Notes payable (due 2024) 1,800 Common stock 17,000 Cash 21,400 Accounts receivable 12,630 Accumulated depreciation-equipment 5,600 Dividends 6,000 Depreciation expense 4,200 Retained earnings (beginning of the year) 38,720