Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned Office expense $969,580 223,005 Miscellaneous expense 19,390 Wages expense 465,400 Accounts payable 24,240 Accounts receivable 67,870 Cash 256,720 Common stock 135,000 Land 310,000 Supplies 11,635 Cash dividends of $36,800 were paid during the year. Retained earnings as of June 1, 2015, were $262,000. Prepare the balance sheet as of May 31, 2016. When entering assets, enter them in order of liquidity. Paradise Travel Service Balance Sheet May 31, 2016 Assets Cash dividends of $36,800 were paid during the year. Retained earnings as of June 1, 20Y5, were $262,000. Prepare the balance sheet as of May 31, 2016. When entering assets, enter them in order of liquidity. Paradise Travel Service Balance Sheet May 31, 2016 Assets Total assets Liabilities Stockholders' Equity $ Total stockholders' equity Total liabilities and stockholders' equity 100