Response to the following problem:
These financial statement items are for Whitnall Corporation at year-end, July 31, 2012.
Salaries and wages payable $ 3,603
Salaries and wages expense 59,237
Supplies expense 16,936
Equipment $20,023
Accounts payable 4,100
Service revenue 67,837
Rent revenue 9,836
Notes payable (due in 2015) 3,786
Common stock 16,000
Cash 30,594
Accounts receivable 11,766
Accumulated depreciation"equipment 7,159
Dividends 4,000
Depreciation expense 5,159
Retained earnings (beginning of the year) 35,394
Whitnall Corporation did not issue any new stock during the year.