information from basic exercise 1-5

Beginning balance = 360,000

Net income = 135,000

Additional investment= 40,000

Dividends = -10,000

Ending balance = 525,000

Obj. 5 Using the following data for Paradise Travel Service as well as the statement of stockholders' equity from Basic Exercise 1-5, prepare a balance sheet as of May 31, 20Y6: Accounts payable Accounts receivable Cash Common stock Land Supplies $18,000 38,000 52,000 100,000 450,000 3,000