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 $120,000 and the retained earnings were $60,000 at April 1 , the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock. Prepare an income statement for the current year ended March 31 . The following totals for the month of June were taken from the payroll register of Arcon Company: The entry to record the payment of net pay would include a a. credit to Salaries Expense for $9,362.50. b. debit to Salaries Payable for $9,362.50. c. debit to Salaries Payable for $10,900,00. d. credit to Salaries Payable for $9,362.50