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PolarNik [594]
3 years ago
9

The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts ha

d been adjusted on January 31, 20Y7, the end of the fiscal year:
Depreciation Expense $10,000
Insurance Expense 9,000
Miscellaneous Expense 8,150
Rent Expense 60,000
Service Revenue 634,900
Supplies Expense 4,100
Utilities Expense 44,700
Wages Expense 548,200

Requierd:
Prepare an income statement.
Business
1 answer:
trasher [3.6K]3 years ago
6 0

Answer and Explanation:

The preparation of the income statement is presented below:

Service revenue $634,900

Less:

Depreciation Expense $10,000

Insurance Expense 9,000

Miscellaneous Expense 8,150

Rent Expense 60,000

Supplies Expense 4,100

Utilities Expense 44,700

Wages Expense 548,200

Net loss -$49,250

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