Income Statement The revenues and expenses of Paradise Travel Service for the year ended May 31, 2016, follow: Fees earned. Office expense Miscellaneous expense Wages expense $797,080 183,330 15,940 382,600 Prepare an income statement for the year ended May 31, 2016. Paradise Travel Service Income Statement For the Year Ended May 31, 20Y6 Fees earned Expenses: Cash X x Common stock x Land x Total expenses Net income 797,080 581,870 215,210