Cullumber Company, a ski tuning and repair shop, opened on November $1,2024.$ The company carefully kept track of all its cash

receipts and cash payments. The following information is available at the end of the ski season, April $30,2025.$

The repair shop equipment was purchased on November $1$ and has an estimated useful life of $5$ years. Lease payments to the landlord

are made at the beginning of each month. The part$-$time helper is owed $$545$ at April $30,2025,$ for unpaid wages. At April $30,2025,$

customers owe Cullumber Company $$430$ for services they have received but have not yet paid for.

Prepare an accrual$-$basis income statement for the $6$ months ended April $30,2025.$

CULLUMBER COMPANY

Income Statement