Laurel Wedding Planners has just completed operations for the year ended December 31, 2016. This is the third year of operations for the company. As the owner, you want to know how well the company performed during the year. To address this question, you have assembled the data below. Use these data to prepare the income statement of Laurel Wedding Planners for the year ended December 31, 2016.

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Insurance Expense3 Service Revenue120,000 Accounts Payable.. 8,000 Supplies Expense1,000 Supplies.. Rent Expens 3,000 Salary Ex131뾰a: RA),000 -- -- 2,500