Prepare an income statement for a company end of the year ended June 30, 2011. Income statement preparation.
Service revenue $62,675
Rent expense $12,000
Insurance expense 6,550
administration expense 5,720
Salery expense 18,625
Expert Answer
Income statement
Service revenue | $62,675 | |
Expenses: | ||
Rent expense | $12,000 | |
Insurance expense | $6,550 | |
Administration expense | $5,720 | |
Salary expense | $18,625 | |
Total expenses | $42,895 | |
Net income | $19,780 |