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 capital of the owner was $180,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $25,000 in the business during the year.

Accounts	Amount	Accounts	Amount
Accounts payable	$2,000	Miscellaneous expense	$1,030
Accounts receivable	10,340	Office expense	1,240
Cash	21,420	Supplies	1,670
Fees earned	73,450	Wages expense	23,550
Land	47,000	Drawing	16,570
Building	157,630

Required:

	Prepare a statement of owners equity for Thompson Computer Services for the current year ended March 31. Be sure to complete the statement heading. Refer to the lists of Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. If a net loss is incurred or there is a decrease in owners equity, enter that amount as a negative number using a minus sign.
Labels
For the Year Ended March 31
Amount Descriptions
Additional investment by owner during year
Decrease in owners equity
Increase in owners equity
Net income for the year
Net loss for the year
Thompson, capital, April 1
Thompson, capital, March 31
Withdrawals