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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

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 $123,400 and the retained earnings were $56,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,200 in stock.

Accounts payable $1,930 Miscellaneous expense $1,000
Accounts receivable 10,870 Office expense 1,260
Cash 20,030 Supplies 1,670
Fees earned 70,550 Wages expense 22,470
Land 46,300 Dividends 15,580
Building 157,000

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

Thompson's Computer Services
Balance Sheet
March 31
Assets
----------- $---------
-------------- ----------
------------- -----------
----------- -----------
----------- ----------
Total assets $---------
Liabilities
------------ $----------
Stockholders' Equity
--------------- ----------
-------------- ----------
Total liabilities and stockholders' equity $----------

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