Income statement

Imaging Services was organized on March 1, 20Y5. A summary of the revenue and expense transactions for March follows:

Line Item DescriptionAmountFees earned$531,800Wages expense271,200Rent expense52,600Supplies expense16,500Miscellaneous expense17,500

Prepare an income statement for the month ended March 31.

Line Item DescriptionAmountAmountCashFees earnedOperating expensesRent expenseWages expense$- Select -Expenses:DividendsFees earnedNet lossNet incomeWages expense$- Select -Common stockDividendsFees earnedNet incomeRent expense- Select -DividendsFees earnedNet lossNet incomeSupplies expense- Select -Common stockDividendsFees earnedMiscellaneous expenseNet income- Select -Total expensesTotal expensesCashDividendsNet incomeNet lossOperating expenses$- Select -

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