Where2 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 Where2 Services.