Question

Please create an income statement for the following data Salary expense $32,000 Accounts Payable $7,000 Owners...

Please create an income statement for the following data

Salary expense $32,000

Accounts Payable $7,000

Owners Capital as December 31, 2003 $13,000

Supplies $2000

Withdraw by owner $36,000

Rent Expense $ 8,000

Insurance Expense $4,000

Service Revenue $91,000

Accounts Receivable $ 17,000

Supplies Expense $1,000

Cash $5,000

Fuel Expense $6,000

Business   Accounting   
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Answer #1
Income statement
Service Revenue 91000
Less: Expenses
         Salaries expense 32000
         Rent expense 8000
         Insurance expense 4000
         Fuel expense 6000
         Supplies expense 1000
     Total expenses 51000
Net operating income 40000
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