On January 1, 2024, Red Flash Photography had the following balances: Cash, $17,000; Supplies, $8,500; Land, $65,000; Deferred Revenue, $5,500, Common Stock $55,000; and Retained Earnings, $30,000. During 2024, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $25,000. 2. May 20 3. August 31 4. October 1 5. November 17 6. December 30 Provide services to customers for cash, $40,000, and on account, $35,000. Pay salaries to employees for work in 2024, $28,000. Purchase rental space for one year, $17,000. Purchase supplies on account, $27,000. Pay dividends, $2,500. The following information is available on December 31, 2024; 1. Employees are owed an additional $4,500 in salaries. 2. Three months of the rental space have expired. 3. Supplies of $5,500 remain on hand. All other supplies have been used. 4. All of the services associated with the beginning deferred revenue have been performed.