Imaging Services was organized on March 1, 2018. A summary of the revenue and expense transactions for March follows:

Fees earned ........................................ $482,000

Wages expense ..................................... 300,000

Rent expense ........................................, 41,500

Supplies expense ...................................... 3,600

Miscellaneous expense .............................., 1,900

Prepare an income statement for the month ended March 31.