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The assets and liabilities of Thompson Computer Services at March 31, the end of the current fiscal year, and its revenue and expenses for the year follow. Mike Thompson, Capital, had a balance of $180,000 at April 1, the beginning of the current year. During the year, the owner invested an additional $25,000.

Line Item DescriptionAmountAccounts payable$2,000Accounts receivable10,340Cash21,420Fees earned73,450Land47,000Building157,630Miscellaneous expense1,030Office expense1,240Supplies1,670Wages expense23,550Mike Thompson, Drawing16,570

Prepare a balance sheet for the current year ended March 31.

Line Item DescriptionAmountAssetsblankAccounts payableCashCommon stockFees earnedMiscellaneous expense$Accounts payableAccounts receivableCommon stockOffice expenseWages expenseAccounts payableFees earnedRetained earningsSuppliesWages expenses- Select -Common stockLandMiscellaneous expenseRetained earningsWages expense- Select -Accounts payableBuildingFees earnedOffice expenseRetained earnings- Select -Total assets$Total assetsLiabilitiesAccounts payableCashDividendsFees earnedSupplies$- Select -Owner's EquityAccounts receivableCashMike Thompson, capitalMike Thompson, drawingSupplies- Select -Total liabilities and owner's equity$Total liabilities and owner's equity