Exercise 4-6 Your answer is partially correct. Try again The following balances were taken from the books of Sunland Corp. on December 31, 2017. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold 87,800 52,800 1,381,800 151,800 21,800 151,800 8,800 46,800 101,800 201,800 141,800 622,800 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable $41,800 29,800 156,800 195,800 171,800 101,800 98,800 33,800 61,800 101,800 151,800 501,800 22,800 Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings Assume the total effective tax rate on all items is 34%