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Requirements 1. Prepare the income statement for Willard Towing Service for the month ending June 30, 2018. 2. What does the
Data Table $ Equipment Office Supplies Notes Payable Rent Expense Cash Dividends 20,900 Service Revenue 1,400 Accounts Receiv
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Ans:1.

WILARD TOWING SERVICE
Income Statement
Month Ended June 30, 2018
Revenue:
Service Revenue 15500
Expenses:
Salaries Expense 2500
Rent Expense 800
Total Expenses 3100
Net Income 12400

2.The income statement reports revenues and expenses and Net Income for a period of time.                     

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