Craft Corner began operations in March with cash and common stock of $36,000. The company made $582,000 in net income its first month. It performed print jobs for customers and billed these customers $900,000. The company collected half of its receivables by the end of the month. The company had cost of goods sold of $162,000 paid for in cash and $6,000 inventory left over at the end of the month. Craft Corner employees earned wages but those are not paid until the first of April. This was the companys only liability.

Complete the following statements for the end of March.

Income Statement				Balance Sheet
Sales		$		Cash		$
Cost of sales				Accounts receivable
Wages expense				Inventory
Net income		$		Total assets		$
				Wages payable		$
				Common Stock
				Retained earnings
				Total liabilities and equity		$