Income Statement

The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 20Y1:

Depreciation Expense$10,600Fees Earned562,900Insurance Expense2,010Miscellaneous Expense4,240Rent Expense80,600Salaries Expense283,000Supplies Expense3,600Utilities Expense30,700

Prepare an income statement for Urgent Messenger Service.

Fees earnedInsurance expenseNet incomeNet lossSupplies expenseFees earned $Fees earnedExpenses: Fees earnedNet incomeNet lossSalaries expenseSalaries payable$- Select - Fees earnedNet incomeNet lossPrepaid RentRent expense- Select - CashFees earnedNet incomeNet lossUtilities expense- Select - Accumulated depreciationDepreciation expenseFees earnedNet incomeNet loss- Select - Fees earnedNet incomeNet lossSupplies expenseSupplies- Select - Fees earnedInsurance expenseNet incomeNet lossPrepaid insurance- Select - CashFees earnedMiscellaneous expenseNet incomeNet loss- Select - Total expenses fill in the blank 17Net incomeNet lossNet income $Net income