The amounts of the assets and liabilities of Utah Travel Service as of April 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $300,000, and the capital stock was $90,000 as of May 1, 20Y5, the beginning of the current year. Dividends of $75,000 were paid during the current year.

Accounts payable 71,500

Accounts receivable 188,100

Cash 428,300

Fees earned 1,594,200

Miscellaneous expense 16,000

Rent expense 226,800

Supplies 20,100

Supplies expense 42,600

Taxes expense 33,600

Utilities expense 135,000

Wages expense 890,200

Prepare the income statement for the current year ended April 30, 20Y6.

Net income: $250,000

Revenue:

Sales..

Expenses:

Cost of Sales..

Selling and administrative expenses.

Interest expense.

Income taxes expense

Other Expense...

Net Income

Prepare the retained earnings statement for the current year ended April 30, 20Y6.

Retained Earnings: $300,000

Prepare the balance sheet as of April 30, 20Y6.

Balance Sheet: