Exercise 1 The following are accounts taken from the books of Dunong Consultancy Services for the month of July. Prepare an income statement from the given data. Consultancy Fees Other Income Salaries Expense Rent Expense Utilities Expense Depreciation Expense Bad Debts Expense P200,000 10,000 25,000 20,000 10,000 3,000 1,000 Exercise 2 The following are accounts taken from the books of Robinhood Security Services for th month of October. Prepare an income statement from the given data. Service Income Interest Income Salaries Expense Rent Expense Utilities Expense Depreciation Expense Supplies Expense Bad Debts Expense Miscellaneous Expense F355,000 15,000 38,000 25,000 8,000 4,000 2,500 2,000 3,000