Maynard Services was organized on August 1, 20Y5. A summary of the revenue and expense transactions for August follows:

Fees earned ............................. $3,400,000

Wages expense .......................... 2,150,000

Miscellaneous expense .................... 55,000

Rent expense .............................. 320,000

Supplies expense ........................... 30,000

Prepare an income statement for the month ended August 31.