Instructions The assets and abilities 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 you, shareholders purchased an additional $25,000 in stock Amount $470 Accounts Accounts payable Accounts receivable Cash 420 Amount $2.000 10,340 21,420 78,510 47,000 157.630 Accounts Miscellaneous expense Office expense Supplies Wages expense Dividends Fees earned 1,670 27,040 16,570 Land Building Required: Prepare an income statement for the current year ended March 31. Be sure to complete the statement r ing Refer to the of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choice for externes ou will need to inter colons() on the income statement Labels and Amount Descriptions Labels Expenses For the Year Ended March 31 March 31 Amount Descriptions Common stock Decrease in retained earnings Dividends Increase in retained earnings Net income for the year Net income Net loss for the year Net loss Retained earnings Retained earnings, April 1 Retained earnings, March 31 Total expenses Total assets Income Statement Prepare an income statement for the current year ended March 31. Be sure to complete the statement heading. Refer to the list of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colon () on the income statement Thompson's Computer Services Income Statement Labell