The assets and liabilities of Rocky's Day Spa at December 31 and expenses for the year are listed below. The stockholders' equity was $68,000 ($48,000 in Common Stock and $20,000 in Retained Earnings) at January 1. The shareholders invested in an additional $10,000 of common stock during the year. Net income for the year is $45,625. Accounts Amounts Accounts Amounts Accounts payable $ 4,375 Spa operating expense $23.760 Accounts receivable 8,490 Office expense 2,470 Cash 13,980 Spa supplies 9,230 Fees earned ??? Wages expense 26,580 Spa furniture & equipment 56.000 Dividends 38,170 Computers 2,130

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