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 follow. The common stock was $120,000 and the retained earnings was $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock.

Line Item Description	Amount
Accounts payable	$1,200
Accounts receivable	12,340
Cash	32,990
Fees earned	78,730
Land	65,000
Building	143,670
Miscellaneous expense	380
Office expense	440
Supplies	1,670
Wages expense	25,890
Dividends	3,000

income statement for the current year ended March 31.