An inexperienced accountant for Yarnell Company prepared the following income statement for the month of  31 August 2019:          

YARNELL COMPANY                                                 August 31,2019
Revenues:
Services provided to customers	$15,000
Investment by stockholders	5,000
Loan from bank	15,000	$35,000
Expenses:
Payments to long-term creditors	$12,000
Expenses required to provide services to customers	7,500
Purchase of land	16,000	35,500
Net loss		$ 500

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