Question

Prepare A multi-step income statement as of Feb. 22, 2018

IENT RESOURCES Trial Balance 2/28/22 Credit rehensive nting Cyde 11-02 (Part Submission Score Results by Study. Accounts Receivable Supplies Prepaid Insurance Prepaid Expenses Allowance for Doubtful Accounts Equipment Accumulated Depreciation-Equipment IR Accounts Payable able 2 Notes Payable 8800 Salaries and Wages Payable Interest Payable 44 Income Taxes Payable 854 TUnearned Service Revenue 459 Common Stock Paid-in Capital in Excess of Par Value-Common Sto TCash Dividends Treasury Stock Service Revenue Tutilities Expense Salaries and Wages Expense Insurance Expense Depreciation Expense Bad Debt Expense Supplies Expense Interest Expense Loss on Disposal of Plant Assets Income Tax Expense 1 Total 41086

Answer 1

$13,353 SKYSONG CLEANING SERVICES INC. Income Statement For the Period ended Feb. 22, 2018 Sales Revenue Operating expenses: Bad Debt Expense $527 Salaries and Wages Expense $6,360 Utilities Expense $240 Supplies Expense $640 Insurance Expense $902 Depreciation Expense $99 Total operating expenses Operating Income Other Expenses: Interest Expense $44 Loss on Disposal of Plant Assets $270 Total Other Expenses Income Before Income Taxes Income Tax Expense Net Income $8,768 $4,585 ($13353 - $8768] $314 $4,271 ($4585 - $314] $854 $3,417 ($4271 - $854]