3 10 points Skipped Print References An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year. Revenues: Services provided to customers Investment by shareholders Loan from bank Expenses: Payments to long-term creditors Expenses required to provide services to customers Purchase of land Profit PRESTWICK COMPANY AUGUST 31, CURRENT YEAR PRESTWICK COMPANY Income Statement For the Month Ended August 31, Current Year $ $ 12,000 5,000 15,000 0 $ 11,700 8,500 16,000 Prepare a revised income statement in accordance with generally cepted accounting principles. $ 32,000 36,200 $ 4,200

An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year. Prepare a revised income statement in accordance with generally accepted accounting principles