For the year ended June 30, 2021,ShamrockInc. had service revenue of $800,000and operating expenses of $531,000. The company has a 15% income tax rate. No income tax instalments have been paid or recorded.

Prepare anincome statement forShamrockInc. for the year ended June 30, 2021.

SHAMROCKINC.

Income Statement

choose the accounting period

Month Ended June 30, 2021June 30, 2021Year Ended June 30, 2021

select an income statement item

Income Tax ExpenseEnding Balance, June 30Operating ExpensesBeginning Balance, July 1Profit/(Loss)Profit Before Income TaxRevenuesGross Profit$

enter a dollar amount

select an income statement item

Ending Balance, June 30Profit/(Loss)Income Tax ExpenseGross ProfitRevenuesOperating ExpensesProfit Before Income TaxBeginning Balance, July 1enter a dollar amount

select a summarizing line for the first part

Profit/(Loss)Income Tax ExpenseRevenuesOperating ExpensesBeginning Balance, July 1Ending Balance, June 30Profit Before Income TaxGross Profitenter a subtotal of the two previous amounts

select an income statement item

Profit Before Income TaxProfit/(Loss)Operating ExpensesRevenuesEnding Balance, June 30Income Tax ExpenseBeginning Balance, July 1Gross Profitenter a dollar amount

select a closing name for this statement

Income Tax ExpenseRevenuesOperating ExpensesBeginning Balance, July 1Profit/(Loss)Profit Before Income TaxGross ProfitEnding Balance, June 30$

enter a total profit or loss amount