These financial statement items are for Sheridan Company at year-end, July 31, 2022. Salaries and wages payable $2,640 Salaries and wages expense 51,500 Utilities expense 23,300 Equipment 23,200 Accounts payable 4,700 Service revenue 60,900 Rent revenue 8,800 Notes payable (due 2024) 1,850 Common stock 15,000 Cash 20,600 Accounts receivable 12,510 Accumulated depreciation-equipment 5,500 Dividends 5,400 Depreciation expense 3,700 Retained earnings (beginning of the year) 40,820