Exploration Services was organized on March 1, 2014. A summary of the revenue and expense transactions for March follows:
|
Fees earned
|
$1,100,000
|
|
Wages expense
|
715,000
|
|
Rent expense
|
80,000
|
|
Supplies expense
|
9,000
|
|
Miscellaneous expense
|
12,000
|
Prepare an income statement for the month ended March 31