Question 8 of 8 View Policies < Current Attempt in Progress On May 1, Sunland Company, a company that provides flying lessons, was started by using common stock in exchange for cash of $45,350. Following are the assets and liabilities of the company on May 31, 2022, and the revenues and expenses for the month of May Cash $5,000 Notes Payable $28.000 Accounts Receivable 7,750 Rent Expense 1.200 Equipment 64.350 Maintenance and Repairs Expense 650 Service Revenue 7,150 Gasoline Expense 2.200 Advertising Expense 850 Utilities Expense 100 Accounts Payable 1,750