Where$2$ Services is a small service firm that advises high school students on college opportunities. Joseph Kapp, the founder and president, has collected the following information for March.

Advertising costs $ $4,000$

Building rent and utilities $2,000$

Printing, fax, and computing costs $3,750$

Sales $16,000$

Training costs $500$

Travel expenses $2,500$

Wages for part$-$time employees $5,000$

Required:

Prepare an income statement for March for Where$2$ Services. $($Loss amount should be indicated with a minus sign.$)$