just need help on income statement

The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 7. had the following normal balances: Book O rences Cash $ 78,972 Petty Cash 100 Accounts Receivable 33,440 Supplies 160 Prepaid Rent 3,200 Merchandise Inventory (23 $280) 6,440 Land 4,000 Accounts Payable 250 Salaries Payable 1,400 Common Stock 50,000 Retained Earnings 74,662 During Year 7, Pacilio Security Services experienced the following transactions 1. Paid the salaries payable from Year 6. 2. Paid $4,800 on March 1, Year 7, for one year's lease in advance on the company van. 3. Paid $8,400 on May 2. Year 7, for one year's office rent in advance. 4. Purchased $550 of supplies on account. 5. Paid cash to purchase 105 alarm systems at a cost of $285 each. 6. Pacilio has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately 3 percent of total credit sales. Pacillo has decided it will starting this year, adopt the allowance method of accounting for uncollectible accounts. It will record an adjusting entry to recognize the estimate at the end of the year. 7. In trying to collect several of its delinquent accounts. Pacillo has learned that these customers have either declared bankruptcy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account 9. Record the cost of goods sold related to the sale from Event 8 using the FIFO method. 10. Paid the balance of the accounts payable. 11. Paello began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of 4 percent Total monitoring services for the year were $68,000. Pocillo accepted credit cards for $24,000 of this amount. The other $44,000 was sales on account. 12. On July 1, Year 7 Pocillo replenished the petty cash fund. The fund contained $21 of currency and receipts of $50 for yord mowing. $22 for office supplies expense, and $9 for miscellaneous expenses 13. Collected the amount due from the credit card company 14. Paid installers and other employees a total of $45,000 cash for salaries 15. Collected $116,800 of accounts receivable during the year, Prev 1 of 1 Next ..21 ces 2. Pold $4.800 on March 1. Year 7. for one year's lease in advance on the company van 3. Paid $8,400 on May 2, Year 7. for one year's office rent in advance. 4. Purchased $550 of supplies on account 5. Paid cash to purchase 105 alarm systems at a cost of $285 each 6. Pocilio has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately 3 percent of total credit sales. Pacillo has decided it will starting this year, adopt the allowance method of accounting for uncollectible accounts. It will record an adjusting entry to recognize the estimate at the end of the year. 7. In trying to collect several of its delinquent accounts, Pacilo has learned that theke customers have either declared bankruptcy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account 9. Record the cost of goods sold related to the sale from Event 8 using the FIFO method 10. Paid the balance of the accounts payable. 11. Pacillo began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of 4 percent Total monitoring services for the year were $68,000. Pacllo accepted credit cards for $24.000 of this amount. The other $44,000 was sales on account 12. On July 1. Year 7 Pacillo replenished the petty cash fund. The fund contained $21 of currency and receipts or $50 for yard mowing. $22 for office supplies expense, and $9 for miscellaneous expenses 13. Collected the amount due from the credit card company 14. Pald installers and other employees a total of $45,000 cash for salaries 15. Collected $116,800 of accounts receivable during the year. 16. Pald $9,500 of advertising expense during the year. 17. Pald $5,200 of utilities expense for the year. 18. Pald a dividend of $20,000 to the shareholders Adjustments 19. There was $250 of supplies on hand at the end of the year. 20. Recognized the expired rent for both the van and the office for the year 21. Recognized the uncollectible accounts expense for the year using the allowance method. 22. Accrued salaries at December 31, Year 7 were $2,100 Post-closing Pacilio Security Services, Inc. Income Statement For the Year Ended December 31, Year 7 Revenues Book Total Revenues Herences 0 Expenses Total Expenses $ 0 Trial Balance Changes in SE > The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 7. had the following normal balances: Book O rences Cash $ 78,972 Petty Cash 100 Accounts Receivable 33,440 Supplies 160 Prepaid Rent 3,200 Merchandise Inventory (23 $280) 6,440 Land 4,000 Accounts Payable 250 Salaries Payable 1,400 Common Stock 50,000 Retained Earnings 74,662 During Year 7, Pacilio Security Services experienced the following transactions 1. Paid the salaries payable from Year 6. 2. Paid $4,800 on March 1, Year 7, for one year's lease in advance on the company van. 3. Paid $8,400 on May 2. Year 7, for one year's office rent in advance. 4. Purchased $550 of supplies on account. 5. Paid cash to purchase 105 alarm systems at a cost of $285 each. 6. Pacilio has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately 3 percent of total credit sales. Pacillo has decided it will starting this year, adopt the allowance method of accounting for uncollectible accounts. It will record an adjusting entry to recognize the estimate at the end of the year. 7. In trying to collect several of its delinquent accounts. Pacillo has learned that these customers have either declared bankruptcy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account 9. Record the cost of goods sold related to the sale from Event 8 using the FIFO method. 10. Paid the balance of the accounts payable. 11. Paello began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of 4 percent Total monitoring services for the year were $68,000. Pocillo accepted credit cards for $24,000 of this amount. The other $44,000 was sales on account. 12. On July 1, Year 7 Pocillo replenished the petty cash fund. The fund contained $21 of currency and receipts of $50 for yord mowing. $22 for office supplies expense, and $9 for miscellaneous expenses 13. Collected the amount due from the credit card company 14. Paid installers and other employees a total of $45,000 cash for salaries 15. Collected $116,800 of accounts receivable during the year, Prev 1 of 1 Next ..21 ces 2. Pold $4.800 on March 1. Year 7. for one year's lease in advance on the company van 3. Paid $8,400 on May 2, Year 7. for one year's office rent in advance. 4. Purchased $550 of supplies on account 5. Paid cash to purchase 105 alarm systems at a cost of $285 each 6. Pocilio has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately 3 percent of total credit sales. Pacillo has decided it will starting this year, adopt the allowance method of accounting for uncollectible accounts. It will record an adjusting entry to recognize the estimate at the end of the year. 7. In trying to collect several of its delinquent accounts, Pacilo has learned that theke customers have either declared bankruptcy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account 9. Record the cost of goods sold related to the sale from Event 8 using the FIFO method 10. Paid the balance of the accounts payable. 11. Pacillo began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of 4 percent Total monitoring services for the year were $68,000. Pacllo accepted credit cards for $24.000 of this amount. The other $44,000 was sales on account 12. On July 1. Year 7 Pacillo replenished the petty cash fund. The fund contained $21 of currency and receipts or $50 for yard mowing. $22 for office supplies expense, and $9 for miscellaneous expenses 13. Collected the amount due from the credit card company 14. Pald installers and other employees a total of $45,000 cash for salaries 15. Collected $116,800 of accounts receivable during the year. 16. Pald $9,500 of advertising expense during the year. 17. Pald $5,200 of utilities expense for the year. 18. Pald a dividend of $20,000 to the shareholders Adjustments 19. There was $250 of supplies on hand at the end of the year. 20. Recognized the expired rent for both the van and the office for the year 21. Recognized the uncollectible accounts expense for the year using the allowance method. 22. Accrued salaries at December 31, Year 7 were $2,100 Post-closing Pacilio Security Services, Inc. Income Statement For the Year Ended December 31, Year 7 Revenues Book Total Revenues Herences 0 Expenses Total Expenses $ 0 Trial Balance Changes in SE >