Prepare an income statement for the month ended March 31, 2012.

Prepare a classified balance sheet at March 31, 2012.

Info:

- Received contribution of $20,000 from each of the two principal owners of the new business in exchange for shares and stock.

-Signed a two year promissory note at the bank and received cash of $15,000. Interest, along with the 15,000, will be repaid after 2 years.

-Purchased $700 in miscellaneous supplies on account. The company has 30 days to pay for the supplies.

- Billed a client $4,000 for services rendered by Expert in helping to install a new computer system. The client is to pay 25% of the bill upon its receipt and the remaining balance within 30 days.

- Received 25% of the amount billed to the client on March 19.

- Received cash of $2,800 for services provided in assisting a client in selecting software for its computer.

-Purchased a computer syster for $8,000 in cash

- Paid $3,300 of salaries and wages for march

-Received and paid $1,400 in in gas, electric, and water Bills

Companys Name is Consulting services INC