Lydia Cravette operates a florist shop called Scents Unlimited. During the month of May, the following things occurred: she spent $160 on the telephone system and $370 on electricity and water; the rent on the premises was $1,500; she took in $24,730 from selling flowers and plants; the cost of the flowers from a local grower was $10,733; she paid $329 for gas and repairs to the delivery vehicle; and she paid her employees $7,000 in wages.
Required:
a. Prepare a statement of earnings to determine how much Scents Unlimited earned in May.
b. Are there any other costs that might have been incurred in May but are not listed?