EXERCISE 2.12 Income Statement LO2-5 Jiminez, Inc., had the following transactions during the month of March, current year. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement. a. Cash received from bank loans was $10,000. b. Revenues earned and received in cash were $9,850. c. Dividends of $4,000 were paid to stockholders. d. Expenses incurred and paid were $5,465. Exercise 2.12 Help Video: Basic Financial Statements JIMINEZ, INC. Income Statement For the Month Ended March 31, Current Year Revenues Expenses Net income Revenue: what a company earns from providing their goods or services to customers. Expenses: costs incurred to generate revenue