Homework Answers
Income statement:
| Service revenue | 113,000 | |
| Less: Expense | ||
| Depreciation expense | 27,000 | |
| Insurance expense | 6,000 | |
| Salary expense | 30,000 | |
| Supplies expense | 9,000 | |
| Utilities expense | 12,000 | (84,000) |
| Profit (Net income) | 29,000 |
Statement of changes in equity:
| Capital | 170,000 | |
| (-) Withdrawal | (15,000) | |
| (+) Net income | 29,000 | |
| Owners equity | 184,000 |
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