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 $930,720 214,065 18,615 446,745 Prepare an income statement for the year ended May 31, 2016. Paradise Travel Service Income Statement For the Year Ended May 31, 2016 Fees earned Expenses: Supplies Office expense Dividends 930,720 x 214,065 X 18,615 X x 446,745 X 679,425 251.295 Total expenses Net income Chack My Work An income statement lists the revenues and the expenses. When revenues are larger than the expenses, the difference is net income