Media Marketing Services has been operating for several years. It showed the following trial balance information (in alphabetical order) for the month just ended March 31, 2020:

Account Debit Credit

Accounts payable............. $46,000

Accounts receivable........ $ 3,000

Building........................... 80,000

Cash................................ 17,000

Revenue.......................... 126,000

Sam Smith, capital *........ 122,000

Sam Smith, withdrawals... 18,000

Land................................. 84,000

Machinery......................... 50,000

Notes payable.................. 114,000

Office supplies................. 3,000

Office supplies expense... 7,000

Wages expense............... 146,000

Totals............................... $408,000 $408,000

^{* The $122,000 balance includes $35,000 invested by the owner during March.}

Using the information provided, prepare an income statement and a statement of changes in equity for the month ended March 31, 2020, and a balance sheet for March 31, 2020.