The balances of Paradise Travel Service’s accounting equation items for the year ended May 31, 20Y6, are listed below. $10,000 of dividends were paid during the year. Retained earnings as of June 1, 20Y5, were $300,000.

Accounts
Fees earned	$900,000
Office expense	300,000
Miscellaneous expense	15,000
Wages expense	450,000
Accounts payable	18,000
Accounts receivable	38,000
Cash	52,000
Common stock	100,000
Land	450,000
Supplies	3,000

Prepare a balance sheet as of May 31, 20Y6. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.