Snow Co. began operations on January 2, 2016. It employs 20 people who work 8-hour days. Each employee earns 10 paid vacation days annually. Any unused vacation days must be taken before January 31 of the year following the year in which they are earned. The average hourly wage rate was $25.00 in 2016. Snow Co. accrues the cost of compensated absences at rates of pay in effect when earned. As of December 31.2016, there are 50 unused vacation days