The following events apply to Paradise Vacations$$s first year of operations:

Acquired $$29,000$ cash from the issue of common stock on January $1,$ Year $1.$

Purchased $$1,250$ of supplies on account.

Paid $$5,280$ cash in advance for a one$-$year lease on office space.

Earned $$37,350$ of revenue on account.

Incurred $$13,850$ of other operating expenses on account.

Collected $$28,500$ cash from accounts receivable.

Paid $$9,450$ cash on accounts payable.

Paid a $$3,900$ cash dividend to the stockholders.

Information for Adjusting Entries

There was $$240$ of supplies on hand at the end of the accounting period.

The lease on the office space covered a one$-$year period beginning November $1.$

There was $$4,500$ of accrued salaries at the end of the period.

Requird

d$-3.$ Prepare a balance sheet.

d$-4.$ Prepare a statement of cash flows.