Instructions Accounts, Labels and Amount Descriptions Income Statement Instructions The assets and liabilities of Global Travel Agency on December 31, 2015, and its revenue and expenses for the year are as follows: Accounts payable $108,000 Miscellaneous expense $19,500 Accounts receivable 539,000 Rent expense 56,000 Cash 200,000 Supplies 6,000 Common stock 575,000 Supplies expense 12,700 Fees earned 940,000 Utilities expense 34,800 Land 1,500,000 Wages expense 415,000 Common stock was $525,000 and retained earnings was $1,250,000 as of January 1, 20YS. During the year, additional common stock of $50,000 was issued for cash, and dividends of $90,000 were paid.