An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year, PRESTWICK COMPANY AUGUST 31, CURRENT YEAR Revenuest Services provided to customers Investment by stockholders Loan from bank Expenses Payment to long-term creditors Expenses required to provide services to customers Purchase of land Net loss $ 14,000 5. 15,00 $ 34,000 $ 11,700 8.500 16.000 36,200 5 2.200 Prepare a revised Income statement in accordance with generally accepted accounting principles ces PRESTWICK COMPANY Income Statement For the Month Ended August 31, Current Year service revenues 9 14.000 Expenses 11.700 est income 3 2300