Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2016, follow: Fees earned $768,600 Office expense 176,780 Miscellaneous expense 15,370 Wages expense 368,930 Accounts payable 19,215 Accounts receivable 53,800 Cash 231,510 Common stock 135,000 Land 246,000 Supplies 9,225 Cash dividends of $29,200 were paid during the year. Retained earnings as of June 1, 2045, were $208,000. 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 231,510 Accounts payable x Fees earned x Land 19,215 x 768.600 x 246,000 Total assets 1,265,325 x Liabilities Office expense X 176,780 X Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity