The balances of Paradise Travel Services accounting equation items for the year ended May 31, 20Y6, are listed below. $15,400 of dividends were paid during the year. Retained earnings as of June 1, 20Y5, was $345,000.

Accounts
Fees earned	$747,500
Office expense	295,500
Miscellaneous expense	10,300
Wages expense	450,200
Accounts payable	44,000
Accounts receivable	74,800
Cash	41,800
Common stock	85,100
Land	308,000
Supplies	25,600

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.

Paradise Travel Service

Balance Sheet

1	Assets
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3
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7	Liabilities
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9	Stockholders Equity
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