Using the following information, prepare a trial balance. assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders’ equity, and revenue accounts have credit balances. list the accounts in the following order: assets, liabilities, stockholders’ equity, dividends, revenues, and expenses. cash $ 5,600 dividends $ 400 salaries payable 600 rent expense 1,500 prepaid rent 800 accounts receivable 3,400 accounts payable 1,500 common stock 5,200 retained earnings 1,300 service revenue 6,100 salaries expense 2,000 advertising expense 1,000

Sean lives in dallas and runs a business that sells boats. in an average year, he receives $722,000 from selling boats. of this sales revenue, he must pay the manufacturer a wholesale cost of $422,000; he also pays wages and utility bills totaling $268,000. he owns his showroom; if he chooses to rent it out, he will receive $2,000 in rent per year. assume that the value of this showroom does not depreciate over the year. also, if sean does not operate this boat business, he can work as a paralegal, receive an annual salary of $21,000 with no additional monetary costs, and rent out his showroom at the $2,000 per year rate. no other costs are incurred in running this boat business.identify each of sean's costs in the following table as either an implicit cost or an explicit cost of selling boats.implicit costexplicit costthe wages and utility bills that sean pays the rental income sean could receive if he chose to rent out his showroom the salary sean could earn if he worked as a paralegal the wholesale cost for the boats that sean pays the