On November 1, 2017, Jean Higgins started a wedding planning company, Extraordinary Studios. On November 30, 2017, the company€™s records showed the following items. Use this information to prepare a November income statement for the business, similar to Exhibit 1.8.

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Cash .... Owner's withdrawals... $ 3,360 $16,000 Accounts receivable... Office supplies... Automobiles.... 17,000 22,000 Wedding consulting revenue. Rent expense 5,000 2,550 Salaries expense 36,000 6,000 Office equipment Accounts payable.. Owner's investments Telephone expense Utilities expenses 25,250 1,680 7,500 660 84,000