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Kevin's Car Repair: Revenue: $120,000 Cost of Goods Sold (COGS): $50,000 Rent Expense: $10,000 Wages Expense: $20,000 Utilities Expense: $4,000 Other Operating Expenses: $6,000 Interest
Kevin's Car Repair:
- Revenue: $120,000
- Cost of Goods Sold (COGS): $50,000
- Rent Expense: $10,000
- Wages Expense: $20,000
- Utilities Expense: $4,000
- Other Operating Expenses: $6,000
- Interest Expense: $500
- Other Income: $1,500
- Income Tax Expense: $8,000
Prepare the profit and loss account and calculate the net income for Kevin's Car Repair.
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