Balance Sheet

The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow:

Fees earned$862,755Office expense198,435Miscellaneous expense17,255Wages expense414,120Accounts payable21,570Accounts receivable60,390Cash242,970Common stock135,000Land276,000Supplies10,355

Cash dividends of $32,800 were paid during the year. Retained earnings as of June 1, 20Y5, were $233,000.

Prepare the balance sheet as of May 31, 20Y6. When entering assets, enter them in order of liquidity.

AssetsAccounts payableCashDividendsFees earnedMiscellaneous expenseRetained earningsCash$Cash Accounts payableAccounts receivableCommon stockDividendsOffice expenseWages expenseAccounts receivableAccounts receivable Accounts payableDividendsFees earnedRetained earningsSuppliesWages expenseSuppliesSupplies Accounts payableDividendsFees earnedLandOffice expenseRetained earningsLandLand Total assets $fill in the blank 9LiabilitiesAccounts payableAccounts receivableCashDividendsLandOffice expense $- Select -Stockholders' EquityAccounts receivableCommon stockDividendsFees earnedLandWages expense$- Select - Accounts receivableDividendsFees earnedLandRetained earningsWages expense- Select - Total stockholders' equity fill in the blank 16Total liabilities and stockholders' equity $fill in the blank 17