These items are taken from the financial statements of Blossom Corporation for the year ended December 31, 2021: Retained earnings, January 1 $211,000 Cash Salaries payable 10,900 3,000 Utilities expense Equipment 2,000 56,000 Accounts payable 14,000 Buildings Common shares Dividends declared 62,000 33,200 2,000 Service revenue 212,900 Prepaid insurance 1,500 Repairs and maintenance expense 2,300 Land 175,500 Depreciation expense 5,700 Accounts receivable 13,700 Insurance expense 1,700 Salaries expense 119,800 Accumulated depreciation-equipment 15,600 Income tax expense 6,000 Supplies 200 Operating expense 39,400 Supplies expense 1,000 Bank loan payable, due 2024 13,000 Trading investments 18,000 Accumulated depreciation-buildings 16,000 Interest expense 1,500 Interest revenue 500 Additional information: 1. Blossom started the year with $25,000 of common shares and issued $8,200 more during the year. 2. Blossom must pay $1,500 of the bank loan payable next year in 2022.