Answer is $42,500
Working Notes:
Vaughn Consulting Firm | ||
Income Statement | ||
For the Month ended February | ||
Service Revenue | $42,500 | |
Expenses: | ||
Supplies Expense | $2,550 | |
Salaries Expense | $5,100 | |
Utiities Expense | $5,800 | |
Total expenses | ($13,450) | |
Net Income | $29,050 |
Total Service Revenue = Cash Services + Credit services
=$15,300+$27,200
=$42,500
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