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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
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, 2017: Depreciation Expense Fees Earned $8,000 654,000 Insurance Expense 1,100 Miscellaneous Expense 3,650 Rent Expense Salaries Expense 51,000 336,100 Supplies Expense 4,400 Utilities Expense 43,900 Labels and Amount Descriptions Labels April 30, 2017 Expenses For the Year Ended April 30, 2017 Amount Descriptions Net income Net loss Total expenses Income Statement 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. 2 (Label) 3 4 5 6 7 8 9 10 11 Capstone Messenger Service Income Statement (Label)
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