3. Spiffy Company's assets total $780,000, capital stock of $500,000 and liabilities of $150,000. Determine the Company's retained earnings $130,000 5280,000 $650,000 $630,000 QUESTION 5 Melbourne Inc. had the following transactions during the current year. Revenues of $100,000 and Expenses of $56,000, all in cash.. Purchased equipment for $25,000-all for cash. Sold land for $10,000 cash.. Borrowed $15,000 from a local bank. What was the total change in cash during the year? $44,000 $34,000 569,000 $54,000 QUESTION 6 A company's policy is to pay its employees every Friday. Since December 31 fell on a Wednesday, there was an accrued liability for salaries amounting to $4,800. The payroll for the balance of the week ending January 2 of the following year amounted to $3,200. The Journal entry to record the payment of the payroll to its employees on Friday, January 2nd should be: Debit Wages Payable: 54,800 Debit Wages Expense 53,200 Credit: Cash $8,000 Debit: Wages Expense $8,000 Credit: Cash $8,000 Debit: Wages Expense $3,200 Credit: Cash $3,200