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Brandon Manufacturing Inc. began operations on January 1, 2021. The following information all of the accounts pertaining to the Income Statement and some of the
Brandon Manufacturing Inc. began operations on January 1, 2021. The following information all of the accounts pertaining to the Income Statement and some of the accounts pertaining to the Balance Sheet for Brandon Manufacturing Inc. as of December 31, 2021.Create an Income Statement based on this data and ensure that the Net Income is clearly stated.
Accounts receivable | 34,700 | Retained earnings | $0 |
Supplies expense | 24,600 | Accounts payable | 33,000 |
Equipment | 396,000 | Cash | 18,400 |
Rent expense | 96,000 | Insurance expense | 21,000 |
Dividends | 13,000 | Notes payable | 41,000 |
Service revenue | 363,000 | Common stock | 280,000 |
Supplies | 14,000 | Salaries expense | 140,000 |
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