Question

Income Statement; Net Loss The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the accounts had been adjusted on February 28, 2019, the end of the fiscal year: Depreciation Expense $7,500 Insurance Expense 3,000 Miscellaneous Expense 8,150 Rent Expense 54,000 Service Revenue 448,400 Supplies Expense 2,750 Utilities Expense 33,900 Wages Expense 360,000 Prepare an income statement. Use a minus sign to indicate a net loss. Wholistic Health Services Co. Income Statement For the Year Ended February 28, 2019 Service revenue $ Expenses: $ Total expenses

Answer 1

Answer:

The answer is -$20,900

Explanation:

It is a net loss of $20,900

Please refer to the attached file for the calculation.