Depreciation Expense $ 7,500 | Service Revenue $448,400
Insurance Expense 3,000 | Supplies Expense 2,750
Miscellaneous Expense 8,150 | Utilities Expense 33,900
Rent Expense 54,000 | Wages Expense 360,000
Prepare an income statement.
Answers:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdSlgb7zsyzy0vwtRn1eTUQbmi8C2C_mg12nwiZ8rcAABUBT_4d-hun5NByahMEGvDFWNNY71tGndUbNt3xKMfeNZyROvEK9-Cs0L5Oxca0KPfGGQJeyCE-CkgtVzZDbaVV818XJ4HKDk/s400/Untitled.jpeg)
Service revenue$448,400
Expenses:
Wages expense$360,000
Rent expense54,000
Utilities expense33,900
Depreciation expense7,500
Insurance expense3,000
Supplies expense2,750
Miscellaneous expense8,150
Total expenses469,300
Net loss$ (20,900)