Carmen Camry operates a consulting firm called Help Today. On August 31, the company’s records show the following accounts and amounts for the month of August. Use this information to prepare an August income statement for the business.

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $25,360

Accounts receivable . . . . . . . . . . . . . . . . . . . . . 22,360

Office supplies . . . . . . . . . . . . . . . . . . . . . . . . . . 5,250

Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,000

Office equipment . . . . . . . . . . . . . . . . . . . . . . . 20,000

Accounts payable . . . . . . . . . . . . . . . . . . . . . . . 10,500

C. Camry, Capital, July 31. . . . . . . . . . . . . . . . . 2,000

C. Camry, Withdrawals . . . . . . . . . . . . . . . . . . . $ 6,000

Consulting fees earned . . . . . . . . . . . . . . . . . . . . 27,000

Rent expense . . . . . . . . . . . . . . . . . . . . . . . . . . 9,550

Salaries expense. . . . . . . . . . . . . . . . . . . . . . . . . 5,600

Telephone expense . . . . . . . . . . . . . . . . . . . . . . . 860

Miscellaneous expenses . . . . . . . . . . . . . . . . . . 520

Owner investment made on August 4 . . . . . . . 100,000