Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2016, follow: Fees earned $900,000 Office expense 300,000 Miscellaneous expense 15,000 Wages expense 450,000 Accounts payable 18,000 Accounts receivable 38,000 Cash 52,000 Common Stock 100,000 Land 450,000 Supplies 3,000 $10,000 of dividends were paid during the year. Retained earnings as of June 1, 2045, were $300,000 Prepare a 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 Accounts receivable Supplies Land Total assets Paradise Travel Service Balance Sheet May 31, 2016 Assets A Cash Accounts receivable Supplies Land Total assets Liabilities A Accounts payable Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity