The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2016, follow:

Accounts (revenue and expense items)
Fees earned	$750,000
Office expense	295,000
Miscellaneous expense	12,000
Wages expense	450,000

Prepare an income statement for the year ended August 31, 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.