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Income statement; net loss The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had
Income statement; net loss The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January 31, 2017, the end of the fiscal year: Depreciation $12,000 Expense Insurance Expense 11,000 Miscellaneous 7,850 Expense Rent Expense 58,000 Service Revenue 623,100 Supplies Expense 4,400 Utilities Expense 47,200 Wages Expense 538,200 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Prepare an income statement. Round your answers to the nearest dollar. Use a minus sign enter loss, if any. Acorn Health Services Co. Income Statement For the Year Ended January 31, 2017 Service revenue $ Expenses: Wages expense Rent expense Utilities expense Depreciation expense Insurance expense Supplies expense Miscellaneous expense Total expenses Net loss
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