The assets and liabilities of Gator Pest Control Services, Inc. at May 31, 2018, the...
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Accounting
The assets and liabilities of Gator Pest Control Services, Inc. at May 31, 2018, the end of the current year, and its revenue and expenses for the year are listed below. The capital stock was $100,000 at June 1, 2017, the beginning of the current year. Mr. Al Gator invested an additional $15,000 in the business in exchange for capital stock during the year.
| Accounts Payable | $1,200 |
| Miscellaneous Expense | $220 |
| Accounts Receivable | $12,340 |
| Office Expense | $560 |
| Cash | $32,990 |
| Supplies | $1,670 |
| Fees Earned | $78,350 |
| Wages Expense | $26,770 |
| Land | $65,000 |
| Dividends | $3,000 |
| Building | $143,670 |
| Retained Earnings | $90,000 |
REQUIRED: Prepare a statement of retained earnings for the current year ended May 31, 2018.
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