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Using the following information to prepare Income Statement for Latisha bookkeeping Service, Inc for the month of August 31, 2017. Common stock $21,155 Revenue earned 72,000 Supplies expense 3,425 Rent expense 6,000 Wages expense 22,000 Dividends 4,725
Expert Answer
| PArticulars | Amount($) | Amount($) |
| Revenues: | ||
| Revenue earned | $72000 | |
| Total revenue | $72000 | |
| Expenses: | ||
| Supplies expense | $3425 | |
| Rent expense | $6000 | |
| Wages expense | $22000 | |
| Total expenses | $31425 | |
| Net income | $40575. |
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