Brief Exercise 5-7

The following information relates to Splish Brothers Inc. for the year 2017.

Retained earnings, January 1, 2017		$53,760		Advertising expense		$2,020
Dividends during 2017		5,600		Rent expense		11,650
Service revenue		70,000		Utilities expense		3,470
Salaries and wages expense		31,360		Other comprehensive income (net of tax)		450

After analyzing the data, compute net income.

Net income / (loss)

$enter net income or loss amount

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Prepare a comprehensive income statement for the year ending December 31, 2017.

SPLISH BROTHERS INC. Comprehensive Income Statement choose the accounting period For the Month Ended December 31, 2017For the Year Ended December 31, 2017December 31, 2017
select a comprehensive income item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)		$enter a dollar amount
select an opening section name DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)		enter a dollar amount
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)		$enter a total amount for this statement