Homework Answers
Income / (loss) = Revenue - Expenses
Revenues = Service revenue = $445,100
Expenses = Depreciation + Insurance + Miscellaneous + Rent + Supplies + Utilities + Wages
Expenses = $9,000 + $3,100 + $8,350 + $55,000 + $2,650 + $34,800 + $360,000 = $472,900
Income / (loss) = $445,100 - $472,900 = - $27,800
So, Loss = $27,800
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