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Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2018, are listed below. Fees earned $896,245 Office expense 206,135

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Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2018, are listed below. Fees earned $896,245 Office expense 206,135 Miscellaneous expense 17,925 Wages expense 430,200 Accounts payable $22,405 Accounts receivable 62,740 246,795 Cash Common stock Land Supplies 135,000 287,000 10,755 Cash dividends of $34,100 were paid during the year. Retained earnings as of June 1, 2017, were $242,000. Prepare the balance sheet as of May 31, 2018. When entering assets, enter them in order of liquidity. Paradise Travel Service Balance Sheet May 31, 2018 Assets Paradise Travel Service Balance Sheet May 31, 2018 Assets $ Total assets Liabilities Accounts payable Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity

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