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Kim Renovation Inc. renovates historical buildings for commercial use. During 2022, Kim had $793,600 of revenue from renovation services and $7,800 of interest income from
Kim Renovation Inc. renovates historical buildings for commercial use. During 2022, Kim had $793,600 of revenue from renovation services and $7,800 of interest income from miscellaneous investments. Kim incurred $222,900 of wages expense, $143,160 of depreciation expense, $45,725 of insurance expense, $109,300 of utilities expense, $31,000 of miscellaneous expense, and $61,400 of income tax expense. Required: Prepare a single-step statement of earnings for Kim for 2022. Kim Renovation Inc. Statement of Earnings For the Year Ended December 31, 2022 Revenues: Total revenues Expenses: Total expenses Net income
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