The accounts of Hernandez Computer Repair, Inc., follow with their normal balances at March 31, 2016. The accounts are listed in no particular order.

Account _____________________________ Balance

Common Stock ................................... $15,000

Insurance Expense ..................................... 150

Accounts Payable ...................................... 925

Service Revenue ................................... 13,200

Land ................................................. 20,000

Supplies Expense ..................................... 360

Cash .................................................. 4,600

Salaries Expense .................................... 3,650

Building .......................................... 110,000

Rent Expense ....................................... 1,500

Dividends ........................................... 2,000

Utilities Expense ..................................... 675

Retained Earnings ................................ 17,010

Accounts Receivable ................................. 850

Notes Payable ...................................... 98,000

Supplies ................................................ 350

Requirements

1. Prepare the company's trial balance at March 31, 2016, listing accounts in the proper order. List the largest expense first, the second largest expense next, and so on.

2. Prepare the month-end financial statements: income statement, statement of retained earnings, and balance sheet. The retained earnings balance of $17,010 is the beginning balance for the month; it has not been updated for the current month's income or loss.

3. Was it a profitable month for Hernandez Computer Repair, Inc.? Why or why not?