The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2018, the end of the year, and its revenue and expenses for the year follow. The retained earnings was $145,000 at May 1, 2017, the beginning of the year, and dividends of $40,000 were paid during the year. Accounts payable $25,000 Accounts receivable 210,000 Cash 16,000 Common stock 35,000 Fees earned 875,000 Miscellaneous expense 15,000 Pent expense 75,000 9,000 Supplies 12,000 Supplies expense 10,000 Taxes expense 38,000 Utilities expense 525,000 Wages expense Required: 1. Prepare an income statement for the year ended April 30, 2018. Wilderness Travel Service Income Statement For the Year Ended April 30, 2018 wtligment igmenindeke igmereont.ocatoipogtae ngagetO Oine te Sea Calcula Transactions On September 1 of the cument year, Joy Tucker tabhed a buiness to manage reta property. She completed the folowing transactions during Sptember a. Opened a bi bak aceunt with a depot of 000 in echange for common stack b. Purchased office supples on account, SL.0. . Recelved cash from feamed for managing retl prperty, ,750. d. Pald rent on office and epment for the month, $5.000. Paid creditors on account, $1,375 1. ied customers for fees earned for managing rental property, 9,500. Pald atomobile epenes for month, s, and misceaneo epen, . A Paid ofice salarlen, 3600. L Determined that the cst of sples on hand was 35, therefore, the ct of les ed w Ase Paid dividends, 3,000. Required: 1. Indicate the offect of each transaction and the balances ater each transaction For those boxes in which no entry ls required, leave the bo blank For those boe in which you mst ter subtractive or negativeumbers uain sign. ame0 Llabilities Assets Shakholde Equity Accounts Payable Accounts Common Fees Rent Sal Supp. Auto Mic Supplies Dividends Cash Item them Farmed Expense Recelvable Stock Expese Epense Epese b. Bal. Bal d. Bal. al Bal f. Bal. Chek Hy wok ing n