Transcribed image text: Vaughn Manufacturing Balance Sheet July 31, 2017 Assets Total Assets Liabilities and Stockholders' Equity Exercise 2-8 (Part Level Submission) These financial statement items are for Vaughn Manufacturing at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,580 59,100 17,100 20,000 4,100 67,700 10,000 3,300 16,000 30,200 11,280 7,100 4,000 5,100 35,000