An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year.

PRESTWICK COMPANY AUGUST 31, CURRENT YEAR
Revenues:
Services provided to customers	$	13,000
Investment by stockholders		5,000
Loan from bank		15,000			$	33,000
Expenses:
Payments to long-term creditors	$	11,700
Expenses required to provide services to customers		9,500
Purchase of land		16,000				37,200
Net income					$	4,200

Prepare a revised income statement in accordance with generally accepted accounting principles.