The balances of Paradise Travel Service's accounting equation items for the year ended May $31,20$Y$6,$ are listed below. $$10,000$ of dividends were paid during the year. Retained

earnings as of June $1,20$Y$5,$ were $$300,000.$

Prepare a balance sheet as of May $31,20$Y$6.$ 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.