Income Statement Rork Corporation expected its net income for the month of August to be at least $4,500.

During the month, Rork reported the following:

a. Prepare an income statement for the month of August.

b. Determine whether Rork Corporation was successful in meeting its projected level of net income for August.

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Wages and salaries earned by employees during the month $ 6,400 Cost of telephone and electricity used 800 Cash sales to customers 8,500 Sales to customers on credit 14,000 Cost of merchandise sold 9,000 Monthly rent payment on machinery and equipment Monthly rent payment on building 2,000 1,500