Assets Claims Cash $61,000 Accounts Payable $25,000 Accounts Receivable 45,000 Common Stock 90,000 Land 27,000 Retained Earnings 18,000 Totals $133,000 $133,000 The following accounting events apply to Oakss 2011 fiscal year: Jan. 1 Acquired an additional $70,000 cash from the issue of common stock. April 1 Paid $6,600 cash in advance for a one-year lease for office space. June 1 Paid a $3,000 cash dividend to the stockholders. July 1 Purchased additional land that cost $25,000 cash. Aug. 1 Made a cash payment on accounts payable of $13,000. Sept. 1 Received $8,400 cash in advance as a retainer for services to be performed monthly during the next eight months. Sept. 30 Sold land for $15,000 cash that had originally cost $15,000. Oct. 1 Purchased $900 of supplies on account. Dec. 31 Earned $80,000 of service revenue on account during the year. 31 Received $66,000 cash collections from accounts receivable. 31 Incurred $16,000 other operating expenses on account during the year. 31 Recognized accrued salaries expense of $5,000. 31 Had $250 of supplies on hand at the end of the period. 31 The land purchased on July 1 had a market value of $28,000. Net cash flows from operating activities: What amount of total expenses would Oaks report on the income statement? What total amount of service revenues would Oaks report on the income statement?