Instructions Labels and Amount Descriptions Income Statement 1 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 isted 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. Accounts Amount Accounts payable Accounts receivable 5410 550 Cash Amount Accounts $2,000 Miscellaneous expenso 10,340 Office expense 21,420 Supplies 75,080 Wages expense 47,000 Dividends 157,630 1,670 25,640 Fees earned Land 16,570 Building Required: Prepare an income statement for the current year ended March 31. Be sure to complete the statement heading. Refer to the lists of Accounts in Instructions 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 accote Labels and Amount Descriptions 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 Instructions Labels and Amount Descriptions Income Statement Prepare an income statement for the current year ended March 31. Be sure to complete the statement heading. Refer to the lots of Accounts in the information von Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colons () on the income statement. Thompson's Computer Services Income Statement (Label 1 2 (Label) 3 4 Instructions Labels and Amount Descriptions Income Statement Thompson's Computer Services Income Statement (Label) 1 2 (Label) 3 4 5 6 7