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Prepare an income statement from the following data. Headings and organization count Wages expense $53,750 Utilities expense
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Answer #1
Income Statement
Revenues
Service Revenue $           1,02,500
Expense
Wages Expense $             53,750
Utilities Expense $                6,000
Depreciation Expense $                5,950
Insurance Expense $                3,900
Miscellaneous Expense $                2,200
Rent Expense $             34,000
Supplies Expense $                4,150
Total Expenses $           1,09,950
Net Income $              -7,450
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