The revenues and expenses of Adventure Travel Service for the year ended April 30, 2019, follow:
Fees earned $2,180,000
Office expense 400,000
Miscellaneous expense 25,000
Wages expense 1,300,000
Prepare an income statement for the year ended April 30, 2019.
Answer:
ADVENTURE TRAVEL SERVICE
Income Statement
For the Year Ended April 30,2019
Fees earned$2,180,000 Expenses: Wages expense$1,300,000 Office expense400,000 Miscellaneous expense25,000 Total expenses1,725,000 Net income$ 455,000