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An inexperienced accountant for Yarnell Company prepared the following income statement for the month of August 2013: YARNELL COMPANY August 31, 2013 Revenues: Services provided
An inexperienced accountant for Yarnell Company prepared the following income statement for the month of August 2013: YARNELL COMPANY August 31, 2013 Revenues: Services provided to customers 14,000 $ Investment by shareholders 5,000 15,000 Loan from bank 34,000 $ 11,700 $ Expenses: Payments to long-term creditors Expenses required to provide services to customers Purchase of land 9,500 16,000 37,200 Loss $ 3,200 Prepare a revised income statement in accordance with generally accepted accounting principles. (Input all amounts as positive values. Omit the "$" sign in your response.) YARNELL COMPANY Income Statement For the Month Ended August 31, 2013 (Click to select) $ (Click to select) (Click to select) $
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