Exercise 2.13 (Algo) Income Statement (LO2-5) An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year. PRESTWICK COMPANY AUGUST 31, CURRENT YEAR Revenues: Services provided to customers Investment by stockholders Loan from bank Expenses: $ 15,000 5,000 15,000 $ 35,000 Payments to long-term creditors Expenses required to provide services to customers Purchase of land $ 11,700 8,500 16,000 36,200 Net loss $ 1,200 Prepare a revised income statement in accordance with generally accepted accounting principles. PRESTWICK COMPANY Income Statement For the Month Ended August 31, Current Year $ 0