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Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2017), the following
Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2017), the following financial data for the company are available: Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable Other Liabilities Sales Revenue Operating Expenses Selling and Administrative Expenses Advertising and Marketing Expenses Interest Expense Retained Earnings, July 1, 2016 Contributed Capital Dividends $ 6,500 128,000 41,000 233,300 15, 100 42,550 175,000 26,500 275,000 196, 900 46,500 24,000 6,000 35,000 167,000 23,750 Required: 1. Prepare an income statement for the year ended June 30, 2017. (Negative amounts should be indicated by a minus sign.) COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2017 Expenses
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