The balances of Up-in-the-Air Travel Services accounting equation items for the year ended April 30, 20Y7, are listed below. Jerome Foley, the owner, invested an additional $52,000 in the business during the year and withdrew cash of $34,000 for personal use. Jerome Foley, capital as of May 1, 20Y6, was $876,000.

Fees earned$1,870,000Office expense343,000Miscellaneous expense21,000Wages expense1,115,000Accounts payable90,000Accounts receivable417,000Cash170,000Land772,000Supplies16,000