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Hello! I need some help creating an income statement for an accounting assignment. Please show work/steps taken so that I may refer back to them
Hello! I need some help creating an income statement for an accounting assignment. Please show work/steps taken so that I may refer back to them for future problems. Thank you so much!
The adjusted trial balance for China Tea Company at December 31,2021 , is CHINA TEA COMPANY Income Statement For the Year Ended December 31, 2021 \begin{tabular}{|l|r|r|} \hline Service revenue & & $340,000 \\ \hline \hline Salaries expense & & \\ \hline Advertising expense & $150,000 & \\ \hline Rent expense & 79,000 & \\ \hline Depreciation expense & 20,000 & \\ \hline Interest expense & 38,000 & \\ \hline Utilities expense & 2,000 & \\ \hline & 33,000 & \\ \hline Total Expenses & & \\ \hline Net income & & 322,000 \\ \hline \end{tabular}Step by Step Solution
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