Given the adjusted trial balance for the Stoney Creek Resort, prepare the income statement for the year ended December 31, 2014. There were no owner investments during the year.

Stoney Creek Resort

Adjusted Trial Balance

December 31, 2014

Debit Credit

Cash $15,000

Accounts receivable 30,000

Supplies 3,200

Prepaid insurance 7,500

Land 40,000

Building 160,000

Accum. amortization-building $12,000

Equipment 75,000

Accum. amortization-equipment 8,500

Accounts payable 12,000

Salary payable 2,000

Unearned service revenue 25,000

Mortgage payable 100,000

Douglas Reycraft, Capital 60,000

Douglas Reycraft, Withdraw 23,000

Service revenue 257,200

Salary expense 65,000

Utilities expense 24,000

Insurance expense 13,000

Amortization expense-building 9,000

Amortization expense-equipment 3,000

Supplies expense 9,000 ________

Total $476,700 $476,700