An analysis of the transactions made by Kingbird, Inc., a certified public accounting firm, for the month of August, its first month of operations is shown below. Assets Liabilities Stock Accounts Receivable Supplies Equipment Accounts Payable Common Stock $15,600 Revenues Expe $5,500 $2,000 $750 $3,600 $9,100 Cash $15,600 -3.500 -750 5,500 -1,500 -2.300 - 750 350 -4,200 1 2 3. 4. 5. 6. 7. 8. 9. 10. - 1,500 -350 400 (a) Prepare an income statement for August. Kingbird, Inc. Income Statement An analysis of the transactions made by Kingbird, Inc., a certified public accounting firm, for the month of August, its first month of operations is shown below. Assets Liabilities Stock Accounts Receivable Supplies Equipment Accounts Payable Common Stock $15,600 Revenues Expe $5,500 $2,000 $750 $3,600 $9,100 Cash $15,600 -3.500 -750 5,500 -1,500 -2.300 - 750 350 -4,200 1 2 3. 4. 5. 6. 7. 8. 9. 10. - 1,500 -350 400 (a) Prepare an income statement for August. Kingbird, Inc. Income Statement