Question: 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

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.

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