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The following is the unadjusted trial balance for Sandhill Lodge Ltd. at its year end,...

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The following is the unadjusted trial balance for Sandhill Lodge Ltd. at its year end, May 31, 2024. The company adjusts its accounts monthly. \begin{tabular}{|c|c|c|} \hline & Debit & Credit \\ \hline Cash & $6,230 & \\ \hline Accounts receivable & 12,120 & \\ \hline Supplies & 5.210 & \\ \hline Prepaid insurance & 4.800 & \\ \hline Land & 114.930 & \\ \hline Buildings & 182,400 & \\ \hline Accumulated depreciation-buildings & & $23,900 \\ \hline Furniture & 36,600 & \\ \hline Accumulated depreciation-furniture & & 17,700 \\ \hline Accounts payable & & 8,620 \\ \hline Deferred revenue & & 17,900 \\ \hline Mortgage payable, due 2027 & & 138,000 \\ \hline Common shares & & 50,000 \\ \hline Retained earnings & & 41,200 \\ \hline Dividends declared & 1,980 & \\ \hline Rent income & & 234,640 \\ \hline Salaries expense & 106.170 & \\ \hline Utilities expense & 23,320 & \\ \hline Depreciation expense & 14,310 & \\ \hline Interest expense & 8,880 & \\ \hline Insurance expense & 6.720 & \\ \hline Advertising expense & 900 & \\ \hline \multirow[t]{2}{*}{ Income tax expense } & 7,390 & \\ \hline & $531.960 & $531,960 \\ \hline \end{tabular}

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