value: 5.00 points Dive In Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement are presente d below Current Previous Year ear Balance Sheet at December 31 Cash Accounts Receivable Prepaid Expenses $4,180 $5,015 850 85 1,700 170 $ 6,050$5,950 Salaries and Wages Payable 700 $1,800 1,350 3,450 2,800 1,900 Common Stock Retained Earnings $ 6,050$5,950 Income Statement Service Revenue Salaries and Wages Expense Other Operating Expenses $41,650 37,000 4,000 Net Income $ 650 Additional Data a. Prepaid Expenses relate to rent paid in advance b. Other Operating Expenses were paid in cash. c. An owner contributed capital by paying $550 cash in exchange for the company's stock