On May 1, 2006, the amount of capital stock in Moore Services Company was $71,000 and retained earnings was $30,000

On May 1, 2006, the amount of capital stock in Moore Services Company was $71,000 and retained earnings was $30,000. During May, the company paid dividends of $15,100. The amounts of the various assets, liabilities, revenues, and expenses are as follows:                                             SOLUTION

Accounts payable                    $8,900

Accounts receivable                25,950

Cash                                        11,390

Fees earned                              70,800

Insurance expenses                  1,475

Land                                        74,400

Misc. expenses                        1,510

Prepaid insurance                    2,000

Rent expense               8,000

Salary expense             35,300

Supplies                                   950

Supplies expense                     825

Utilities expense                      3,800

Required: Income statement and balance sheet as of May 31, 2006.
                                                         CLICK HERE FOR SOLUTION