These financial statement items are for Vaughn Tax Services at year-end, July 31, 2020. Salaries and wages payable 2,000 Notes payable (long-term) 1,728 Salaries and wages expense 46,752 Cash 13,632 Utilities expense 21,696 Accounts receivable 9,392 Equipment 33,024 Accumulated depreciation equipment 5,760 Accounts payable 3,936 Dividends 2,880 Service revenue 60,480 Depreciation expense 3,840 Rent revenue 8,160 Retained earnings (beginning of the year) 29,952 Share capital-ordinary 19,200 VAUGHN TAX SERVICES Income Statement