Question
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
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
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