Analyzing and Interpreting an Income Statement Three individuals organized Pest B-Gone Professionals on January 1, 2019, to provide insect extermination services. The company paid dividends of $10,000 during the year to the shareholders. At the end of 2019, the following income statement was prepared: Pest B-Gone Professionals Income Statement For the Year Ended December 31, 2019 Revenues Service Revenue $ 192,000 Sales Revenue 24,000 Total Revenue $ 216,000 Expenses Supplies Expense Salaries and Wages Expense Advertising Expense Other Expenses Total Expenses Net Income $ 76,000 33,000 22,000 46,000 177,000 $39.000 Requirements: 1. What was the amount of average monthly revenue? What was the average amount of monthly salaries and wages expense? (show calculations and explain) 2. Explain why advertising is reported as an expense, and not as an asset. 3 Explain why the dividends are not reported as an expense. Based on the income statement, can you determine how much cash the company had on December 31, 2019? Answer yes or no, and explain your reasoning. 4