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Required Information (The following information applies to the questions displayed below At the beginning of Year 1, Oak Consulting had the following normal balances in

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Required Information (The following information applies to the questions displayed below At the beginning of Year 1, Oak Consulting had the following normal balances in Its accounts: Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 29,200 19-600 14,900 22,400 11,500 The following events apply to Oak Cpnsulting for Year 1: 1. Provided $67,200 of services on account 2. Incurred $3,100 of operating expenses on account. 3. Collected $49,600 of accounts receivable. 4. Paid $37,800 cash for salaries expense 5. Paid $16,200 cash as a partial payment on accounts payable. 6. Paid a $9,300 cash dividend to the stockholders

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