Question

Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2019. December 31, 2019 Unadjusted Trial Balance $ 17,000 4,000 $ 828 11,700 32,000 45,000 12,200 5,000 1,400 15,000 59,700 10,000 Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum. depreciation-Trucks Equipment Accum. depreciation-Equipment Accounts payable Estimated warranty liability Unearned services revenue Interest payable Long-term notes payable D. Buggs, Capital D. Buggs, Withdrawals Extermination services revenue Interest revenue Sales (of merchandise) Cost of goods sold Depreciation expense-Trucks Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals 60,000 872 71,026 46,300 35,000 9,000 1,226 8,000 6,800 $226,026 $226,026 The following information in a through h applies to the company at the end of the current year.

Complete the income statement.

Answer 1

Answer:

Bug-Off exterminators Income Statement For the Year Ended December 31, 2019
Revenues
Exterminators services revenue	57760
Sales	71026
Interest revenue	924
Total revenues		129710
Expenses
Cost of goods sold	46300
Depreciation expense - Trucks	6000
Depreciation expense - Equipment	6100
Wages expense	35000
Interest expense	0
Rent expense	9000
Bad debt expense	551
Miscellaneous expenses	1241
Repairs expense	8000
Utilities expense	6800
Warranty expense	1444
Total expenses		120436
Net Income		9274