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. Miscellaneous expense Accounts payable $1,200 $300 Accounts receivable 12,340 Office expense 490 Cash 32,990 Supplies 1,670 Fees earned 78,140 Wages expense 30,120 Land 65,000 Dividends 3,000 Building 143,670 Prepare an income statement for the current year ended March 31. Thompson's Computer Services Income Statement For the Year Ended March 31 Expenses: Total expenses Previous Next