Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $705,555 Office expense 162,280 Miscellaneous expense 14,110 Wages expense 338,665 Accounts payable 17,640 Accounts receivable 49,390 Cash 222,485 Common stock 135,000 Land 226,000 Supplies 8,465 Cash dividends of $26,800 were paid during the year. Retained earnings as of June 1, 20Y5, were $190,000. Prepare the balance sheet as of May 31, 20Y6. When entering assets, enter them in order of liquidity. Paradise Travel Service Balance Sheet May 31, 20Y6
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