Homework Answers
INCOME STATEMENT FOR THE YEAR ENDED 20X1
| DETAILS | AMOUNT | AMOUNT |
| REVENUE | ||
| FEE EARNED | 125200 | |
| TOTAL REVENUE(a) | 125200 | |
| EXPENSE | ||
| MAINTENANCE EXPENSE | 21400 | |
| ADVERTISING EXPENSE | 17060 | |
| SALARY EXPENSE | 59500 | |
| TOTAL EXPENSE(b) | 97960 | |
| NET INCOME(a-b) | 27240 |
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