Homework Answers
Solution:
| Income Statement - Taylor Cleaning Service Inc. | |
| For the year ended December 31, 2019 | |
| Particulars | Amount |
| Service revenue | $250,000.00 |
| Expenses: | |
| Depreciation expense | $9,000.00 |
| Insurance expense | $4,000.00 |
| Miscellaneous expense | $5,000.00 |
| Rent expense | $36,000.00 |
| Supplies expense | $3,000.00 |
| Utilities expense | $14,600.00 |
| Wages expense | $215,000.00 |
| Net Income | -$36,600.00 |
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