Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $827,425 190,310 Office expense Miscellaneous expense 16,550 Wages expense 397,165 Accounts payable 20,685 Accounts receivable 57,920 Cash 237,835 Common stock 135,000 Land 265,000 Supplies 9,930 Cash dividends of $31,400 were paid during the year. Retained earnings as of June 1, 2045, were $223,000. Prepare the balance sheet as of May 31, 2016. When entering assets, enter them in order of liquidity Assets Cash 237,835 Accounts receivable 57,920 Supplies 9,930 Land 265,000 Total assets 570,685 Liabilities Accounts payable 20,685 Common stock Stockholders' Equity 135,000 V Retained earnings 812,165 X Total stockholders' equity 947,165 X Total liabilities and stockholders' equity 591,370 x