Cash Accounts receivable Office supplies Land office equipment Accounts payable Common stock 25,410 Dividends 22,420 Consulting fees earned 5,320 Rent expense 44,050 Salaries expense 20,060 Telephone expense 10,510 Miscellaneous expenses 102,500 $ 6,050 27,060 9,610 5,650 940 560 Exercise 2-16 Preparing an income statement LO C3, P3 Use the above information to prepare an August income statement for the business. 25 HELP TODAY Income Statement For Month Ended August 31 Revenues: Consulting fees earned