Homework Answers
Ans- On-Point Delivery Service
Income Statement
For the Year Ended December 31, 20x3
| Service Revenue (A) | $91,000 | |
| Expenses: | ||
| Salaries Expenses | $32,000 | |
| Supplies Expenses | $1,000 | |
| Insurance Expenses | $4,000 | |
| Rent Expenses | 8,000 | |
| Fuel Expenses | $6,000 | |
| Total Expenses (B) | $51,000 | |
| Net Income (C)= (A)-(B) | $40,000 |
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