Exercise 4-6 (Part Level Submission) Franken Company, a ski tuning and repair shop, opened on November 1, 2016. The company carefully kept track of all its cash receipts and cash payments. The follow information is available at the end of the ski season, April 30, 2017. Issuance of common shares Payment to purchase repair shop equipment Payments to landlord Newspaper advertising payment Utility bill payments Part-time helper's wage payments Income tax payment Cash receipts from ski and snowboard repair services Subtotals Cash Cash Receipts Payments $20,000 $9,200 1,225 375 970 2,600 10,000 32,150 52,150 24,370 27,780 $52,150 $52,150 Cash balance Totals The repair shop equipment was purchased on November 1 and has an estimated useful life of 4 years. Lease payments to the landlord are made at the beginning of e The payments to the landlord included a security deposit of $175. The part-time helper is owed $420 at April 30, 2017, for unpaid wages. At April 30, 2017, customer Prepare an accrual-basis income statement for the 6 months ended April 30, 2017. FRANKEN COMPANY Income Statement April 30, 2017 Total Revenues 4 Service Revenue $ $ A $