2019 Income statement for Louisa Cruise Company E1-16 Presented below is information related to Alexis and Ryans, Attorneys at Law Pheure Retained earnings, January 1, 2019 Legal service revenue-2019 Total expenses-2019 Assets, January 1, 2019 Liabilities, January 1, 2019 Assets, December 31, 2019 Liabilities, December 31, 2019 Dividends-2019 $ 23,000 340,000 211.000 85,000 62,000 168,000 80,000 64,000 (LO S) P2-1A Grandview Park was started on April 1 by R. S. Francis and associates. The follow ing selected events and transactions occurred during April. Apr 1 Stockholders invested $50,000 cash in the business in exchange for common stock Purchased land costing $34,000 for cash. Incurred advertising expense of $1,800 on account. Paid salaries to employees $1,500. 12 4 11 Hired park manager at a salary of $3,500 per month, effective May 1. 13 Paid $2,400 cash for a one-year insurance policy 17 Declared and paid a $1,400 cash dividend. 20 Received $5,700 in cash for admission fees. Sold 100 coupon books for $30 each. Each book contains 10 coupons that entitle the holder to one admission to the park. Received $8,900 in cash admission fees. Paid $840 on balance owed for advertising incurred on 25 30 April 8. 30 Grandview uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Pay able, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Instructions Journalize the April transactions. Jou busi