Please direct where the amounts go in the balance sheet for this event:

Event 1: The company paid all wages owing from the previous period, which made up the total opening balance of Other current liabilities. In addition, the company paid wages costs of $16000. These wages relate 40 percent to administrative expenses, and the remainder to selling expenses.

Details Cash Trade receivables Inventories Other current assets Property, plant & equipment (Net) Investments Trade payables Current tax payable Other current liabilities Borrowings Contributed equity Retained earnings Opening balance - Retained earnings Opening balances 85,255 40,515 31,897 2,203 116,317 122,831 17,499 3,459 4,874 213,570 101,841 Income Expenses Dividends Event 1 Event 2 Event 3 Event 4 Event 5 Event 6 Event 7 Event 8 Event 9 Event 10 Event 11 Event 12 Event 13 Event 14 Closing balances Closing balance - Retained earnings