On January 1, 2021, Red Flash Photography had the following balances: Cash, $19,000; Supplies, $8,700; Land, $67,000; Deferred Revenue, $5,700; Common Stock $57,000; and Retained Earnings, $32,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $27,000. 2. May 20 Provide services to customers for cash, $42,000, and on account, $37,000. 3. August 31 Pay salaries to employees for work in 2021, $30,000. 4. October 1 Paid for one year's rent in advance, $19,000. 5. November 17 Purchase supplies on account, $29,000. 6. December 30 Pay dividends, $2,700. The following information is available on December 31, 2021: 1. Employees are owed an additional $4,700 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5,700 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed.