The revenues and expenses of Ousel Travel Service for the year ended November 30, 2016, follow.

Accounts (revenue and expense items)
Fees earned	$1,475,000
Office expense	320,000
Miscellaneous expense	28,000
Wages expense	885,000

Prepare an income statement for the year ended November 30, 2016. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if it is required. If a net loss is incurred, enter that amount as a negative number using a minus sign.

Labels
Expenses
For the Year Ended November 30, 2016
Amount Descriptions
Fees earned
Office expense
Miscellaneous expense
Net income
Net loss
Total expenses
Wages expense Ousel Travel Service Income Statement 1. 1. 3. 4, 5. 6. 7.