Depreciation Expense $ 8,650 | Rent Expense $ 60,000
Fees Earned 674,000 | Salaries Expense 336,900
Insurance Expense 1,500 | Supplies Expense 4,100
Miscellaneous Expense 3,650 | Utilities Expense 41,200
Prepare an income statement.
Answers:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9GUesukpnxBpUVN0EfL0JbimbQG9VlOL-k_9AYQhiVpGbxa4GigiEFwh6024Ov12T5KEx4dsYUZH0uPWVn83kxOUvCQ5uEyDT9gXLvOeUyDkVS8CH64XZk34cIZtEa2vYj_l_4k1zlpA/s400/Untitled.jpeg)
Fees earned$674,000
Expenses:
Salaries expense$336,900
Rent expense60,000
Utilities expense41,200
Depreciation expense8,650
Supplies expense4,100
Insurance expense1,500
Miscellaneous expense3,650
Total expenses456,000
Net income$218,000