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 listed below. The common stock was $116,700 and the retained earnings were $59,300 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,700 in stock. Accounts Amount Accounts Amount Accounts payable $1,950 Miscellaneous expense $1,020 Accounts receivable 10,430 Office expense 1,200 Cash 19,630 Supplies 1,670 Fees earned 70,330 Wages expense 22,000 Land 45,600 Dividends 15,930 Building 155,500 Required: Prepare a balance sheet for the current year ended March 31. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries.

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
Total liabilities and stockholders' equity

Prepare a balance sheet for the current year ended March 31. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries.

Thompsons Computer Services

Balance Sheet

1	Assets
2
3
4
5
6
7
8	Liabilities
9
10	Stockholders' Equity
11
12
13