These financial statement items are for Oriole Corporation at year end, July 31, 2021: Operating expenses $32,500 Interest payable $1,700 Salaries expense 46,200 Supplies expense 1,500 Deferred revenue 12,000 Dividends declared 16,500 Utilities expense 3,200 Depreciation expense 3,700 Equipment 58,000 Retained earnings, August 1, 2020 22,940 Accounts payable 4,020 Rent expense 12,000 Service revenue 116,100 Income tax expense 5,300 Rent revenue 19,000 Supplies 1,700 Common shares 26,000 Trading investments 23,500 Cash 5,460 Bank loan payable (due December 31, 2021) 24,800 Accounts receivable 21,600 Interest expense 2,100 Accumulated depreciation-equipment 6,700 Additional information: Oriole started the year with $20,000 of common shares and issued additional shares for $6,000 during the year.