Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the companys records show the following accounts and amounts for the month of August.

Cash	$	25,360	C. Camry, Withdrawals	$	6,000
Accounts receivable		22,360	Consulting fees earned		27,000
Office supplies		5,250	Rent expense		9,550
Land		44,000	Salaries expense		5,600
Office equipment		20,000	Telephone expense		860
Accounts payable		10,500	Miscellaneous expenses		520

Exercise 2-16 Preparing an income statement LO C3, P3

Use the above information to prepare an August income statement for the business.