The following revenue and expense account balances were taken from the ledger of Cupcake Services Co. after the accounts had been adjusted on October 31, 2008, the end of the current fiscal year:
|
Depreciation Expense |
$10,000 |
Service Revenue |
$163,375 |
|
Insurance Expense |
6,000 |
Supplies Expense |
2,875 |
|
Miscellaneous Expense |
4,750 |
Utilities Expense |
18,750 |
|
Rent Expense |
51,500 |
Wages Expense |
92,800 |
Prepare an income statement.