As you learned in Chapter 2, Kelly Jennings prepared a balance sheet to submit to her banker with her application for a business loan. When she delivered the balance sheet to the banker, he told her that he also needed information about her operations. In other words, her banker needed an income statement.

Kelly asks you to help her prepare, memorize, and print three versions of the income statement, one of which she will include with her application.

(Use the file you restored in Chapter 2 or restore this file from the student companion site.) Include your name in the Extra Footer Line of all reports printed.

Requirements:

1 A collapsed standard Profit & Loss Report for the month of January 2015.

2 A collapsed standard Profit & Loss Report for the month of January 2015 without cents, formatted with a left alignment and with the title

‘‘Income Statement.’’

3 Modify the income statement you prepared for Step 2 by adding a % of Income column.