10 3 An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current yea PRESTWICK COMPANY AUGUST 31, CURRENT YEAR Revenues: Services provided to customers $14,000 Investment by shareholders Loan from bank 5,000 15,000 $34,000 Expenses: Payments to long-term creditors $11,700 Expenses required to provide services to customers Purchase of land 8,500 16,000 Profit 36,200 $2,200 Print points References Prepare a revised income statement in accordance with generally accepted accounting principles. PRESTWICK COMPANY Income Statement For the Month Ended August 31, Current Year