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i cant figure out how to do the income statement, can you help?!? Lars Linken opened Bramble Cleaners on March 1, 2025. During March, the
i cant figure out how to do the income statement, can you help?!? Lars Linken opened Bramble Cleaners on March 1, 2025. During March, the following transactions were completed. 1 Issued 7,800 shares of common stock for $11,700 cash 1 Borrowed $ 4,800 cash by signing a 6- month, 6%, $ 4,800 note payable. Interest will be paid the first day of each subsequent month 1 Purchased used truck for $ 6,200 cash 2 Paid $1,200 cash to cover rent from March 1 through May 31. 3 Paid $1,800 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $1,560 on account. 14Billed customers $ 2,890 for cleaning services performed 18$390 on amount owed on cleaning supplies 20 Paid $1,370 cash for employee salaries 21 Collected $1,250 cash from customers billed on March 14 28Billed customers $3,280 for cleaning services performed. 31 Paid $270 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a $700 cash dividend. prepare income statement
Income Statement Mar, 1 Issued 7,800 shares of common stock for $11,700 cash. 1 Borrowed $4,800 cash by signing a 6 -month, 6%,$4,800 note payable. Interest will be paid the furst day of each subsequent month. 1 Purchased used truck for $6,200 cash. 2 Paid $1,200 cash to cover rent from March 1 through May 31. 3 Paid $1,800 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $1,560 on account. 14 Billed customers $2,890 for cleaning services performed. 18 Paid $390 on amount owed on cleaning supplies. 20 Paid $1,370 cash for employee salaries. 21 Collected $1,250 cash from customers billed on March 14. 28 Billed customers $3,280 for cleaning services performed. 31 Paid $270 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Deciared and paid a $700 cash dividend. the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tittes and enter of for 1. Services performed but unbilled and uncollected at March 31 was $160. 2. Depreciation on equipment for the month was $200. 3. One-sixth of the insurance expired. 4. An inventory count shows $220 of cleaning supplies on hand at March 31 . 5. Accrued but unpaid employee salaries were $840. 6. One month of the prepaid rent has expired. 7. One month of interest expense related to the note payable has accrued and will be pald April 1 Step by Step Solution
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