On January 1, 2021, Red Flash Photography had the following balances: Cash, $20,000; Supplies, $8,800; Land, $68,000; Deferred Revenue, $5,800; Common Stock $58,000; and Retained Earnings, $33,000. During 2021, the company had the following transactions:

1.		February		15		Issue additional shares of common stock, $28,000.
2.		May		20		Provide services to customers for cash, $43,000, and on account, $38,000.
3.		August		31		Pay salaries to employees for work in 2021, $31,000.
4.		October		1		Paid for one year's rent in advance, $20,000.
5.		November		17		Purchase supplies on account, $30,000.
6.		December		30		Pay dividends, $2,800.

The following information is available on December 31, 2021:

Employees are owed an additional $4,800 in salaries.

Three months of the rental space has expired.

Supplies of $5,800 remain on hand.

All of the services associated with the beginning deferred revenue have been performed.