Instructions Labels and Amount Descriptions Balance Sheet Instructions The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The common stock was $120,000 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock Amount Amount Accounts Accounts payable Accounts receivable $2,000 $1,030 1,240 10,340 21,420 Accounts Miscellaneous expense Office expense Supplies Wages expense Dividends Cash 1,670 Fees earned 73,450 23,550 Land 47,000 16,570 Building 157,630 Required: Prepare a balance sheet for the current year ended March 31. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Labels and Amount Descriptions Labels Expenses For the Year Ended March 31 March 31 Amount Descriptions Balances, April 1 Balances, April 30 Common stock Dividends Net income Net loss Retained earnings Total assets Total expenses Total liabilities and stockholders' equity the information given Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Thompson's Computer Services Balance Sheet (Label) Assets 2 3 7 8 Liabilities 9 10 Stockholders' Equity 11 12 13