Income Statement

Help Save & Exit The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: 1 Credits Debits $ 47,500 31,700 116.800 8 01:23:21 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,900 36,000 106.000 38, 100 $196,000 $196,000 The following is a summary of the transactions for the year 1. January 12 Provide services to customers on account, $68,400. 2. February 25 Provide services to customers for cash, $78,300. 3. March 19 Collect on accounts receivable. $46,300. 4. April 30 Issue shares of common stock in exchange for $36,000 cash. 5. June 16 Purchase supplies on account. $13,300 6. July 7 Pay on accounts payable, $11.900 7. September 30 Pay salaries for employee work in the current year. 570,200. 8. November 22 Pay advertising for the current year. $23,100, 9. December 30 Pay $3,500 cash dividends to stockholders The following information is available for the adjusting entries Accrued interest on the notes payable at year end amounted to $3,100 and will be paid January 1, 2022. Accrued salaries at year end amounted to $2,100 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2.900 Next > Saved Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, will appear for each account, based on your selection. Post-closing 14 Jackrabbit Rentals Income Statement For the Year Ended December 31, 2021 Revenues: Total Revenues Expenses 0 Total Expenses 0