XYZ Company is a landscaping service. In July, they provided $30,000 of services for several customers and billed them. During January, they received $25,000 from their customers for services performed. Employees clocked 500 hours of work and had earned $6,000 of wages. During July. XYZ had paid their employees $5,000. What is their income using cash basis income measurement? \begin{tabular}{l} $20,000 \\ $19,000 \\ $24,000 \\ $25,000 \\ \hline \end{tabular} Question 5 1 pts Retained earnings at the beginning of the year is $100,000. Total assets are $400,000. Liabilities are $250,000. Net income for the year are $25,000. Dividends are $5,000. What is ending retained earnings? $120,000 $520,000 $270.000 $150.000