Answer:
Wholistic Health Services Co.
Income Statement for the year end February 28, 2019
Service Revenue $270,900
Less: Supplies Expense <u>$3,000 </u>
Gross Income $267,900
Less operating Expenses:
Insurance Expense $4,000
Depreciation Expense $9,000
Miscellaneous Expense $6,000
Utilities Expense $1,760
Rent Expense $4,200
Wages Expense <u>$213,000</u>
<u>$237,960</u>
Net Income <u>$29,940 </u>
Explanation:
Income statement shows the performance of the company in a year. It provides the details of revenue, expenses and profits for the year. All the expenses are deducted from the revenue to determine the net earning of the business.
It should be noted that statement of retained earnings gives lists of the beginning and ending balances of key equity accounts.
<h3>What is statement of retained earnings?</h3>
The statement of retained earnings can be regarded as a financial statements which provides details changes in the volume of retained earnings over some period.
statement of retained earnings describes the changes that occur during the period.
Learn more about statement of retained earnings at:
brainly.com/question/9261004
Answer:
annuity
Explanation:
Retirement annuities are helpful because they can guarantee a steady income during your retirement years. They can be either fixed retirement annuities (they provide a fix amount of money until you die) or variable annuities where the amount of money depends on how well your investments perform.