On January $1,2026,$ Red Flash Photography had the following balances: Cash, $$20,000$; Supplies, $$8,800$; Land, $$68,000$; Deferred Revenue, $$5,800$; Common Stock $$58,000$; and Retained Earnings, $$33,000.$ During $2026,$ the company had the following transactions:

February $15$ Issue additional shares of common stock, $$28,000.$

May $20$ Provide services to customers for cash, $$43,009,$ and on account, $$38,000.$

August $31$ Pay salaries to employees for work in $2026,$ $$31,000.$

October $1$ Purchase rental space for $1$ year, $$20,000.$

November $17$ Purchase supplies on account, $$30,600.$

December $30$ Pay dividends, $$2,800.$

The following information is available on December $31,2026$:

Employees are owed an additional $$4,800$ in salaries.

Three months of the rental space have expired.

Supplies of $$5,800$ remain on hand.

All of the services associated with the beginning deferred revenue have been performed.