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Income statement Instructions Labels and Amount Descriptions Income Statement Instructions The following account balances were taken from the adjusted trial balance for Capstone Messenger Service,

image text in transcribedimage text in transcribed Income statement Instructions Labels and Amount Descriptions Income Statement Instructions The following account balances were taken from the adjusted trial balance for Capstone Messenger Service, a delivery service firm, for the fiscal year ended April 30,20Y7 : DepreciationExpenseFeesEarnedInsuranceExpenseMiscellaneousExpenseRentExpenseSalariesExpenseSuppliesExpenseUtilitiesExpense$8,550684,0001,2003,60060,000336,3003,50041,800 Prepare an income statement. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. A colon (:) will automatically appear if it is required

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