Your answer is correct. Prepare a retained earnings statement for the month of May. Interest Expense Supplies Common Stock 5/31 Bat. 59833 Rent Revenue Salaries and Wages Expense The Oriole Hotel opened for business on May 1, 2025. Here is its trial balance before adjustment on May 31. 4:68 PM Sat Oct 7 Chapter 4 Homework Question 9 of 9 1.43/2 Unearned Rent Revenue 670 Notes Payable 33600 Common Stock 59833 Rent Revenue 11630 Salaries and Wages Expense Utilities Expense Actwertising Expense Insurance Expense 450 Depreciation Expense 590 Interest Expense 140 Supplies Expense 1530 Interest Payable 140 (B) Salaries and Wages Payable 730 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1.070 of unused supplies on May 31. 3. Annual depreciation is $3,840 on the building and $3,240 on equipment. 4. The notes payable interest rate is 5%. (The note was taken out on May 1 and has a 1 year life interest and principal are to be repaid at the maturity of the note.) 5. Unearned rent of $2.630 has been earned. 6. Salaries of $730 are accrued and unpaid at May 31. Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) 5:00 PM Sat Oct 7 \% 96%= Chapter 4 Homework Question 9 of 9 Assets $ 1.43/2 o $ $ (6) s 4:59PM Sat Oct 7 Chapter 4 Homework Question 9 of 9 1.43/2 Expenses Salaries and Wages Expense s 3730 Utilities Expense Advertising Expense Insurance Expense Depreciation Expense 590 imterest Expense 140 Supplies Expense 1530 Total Expenses Net income / (Loss) eTextbook and Media List of Accounts Attempts: 1 of 3 used 5:00 PM Sat Oct 7 96% Chapter 4 Homework Question 9 of 9 1.43/2 Assets $ $ B 5:00 PM Sat Oct 7 \% 96% Chapter 4 Homework Question 9 of 9 1.43/2 Labilities and Stockholders' Equity $ 5. Uncarned Rent Revenue Rent Revenue 6. Salaries and Wages Expense 2630 Salaries and Wages Payable eTextbook and Media Solution List of Accounts Attempts: 3 of 3 used (b) Prepare a ledger using r-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the onder of foumal entries presented in the previous question.) 5:01PM Sat Oct 7 \% 96%= Chapter 4 Homework Question 9 of 9 1.43/2 Liabilities and Stockholders' Equity $ $ 0 (3) s Prepare an adjusted trial balance on May 31. Journalize the adjusting entries on May 31. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account tities are automatically indented when the amount is entered. Do not indent manually.) Accumulated Depreciation-Equipment Accounts Payable Prepare an income statement for the month of May