Account Balance Cash $42,000 Accounts receivable 25,000 Accounts payable 8,400 Common stock 24,000 Retained earnings 34,600 The following events apply to Oak's Consulting for 2016: Provided $185,000 of services on account. Incurred $45,800 of operating expenses on account. Collected $140,000 of accounts receivable. Paid $120,000 cash for salaries expense. Paid $31,400 cash as a partial payment on accounts payable Paid $10,000 cash dividend to the stockholders