Milea Incorporated experienced the following events in Year 1, its first year of operations 1 Received $13,000 cash from the issue of common stock 2 Performed services on account for $45,000 3 Paid the utility expense of $1,050 4 Collected $33,240 of the accounts receivable 5 Recorded $5,050 of accrued salaries at the end of the year 6 Paid a $950 cash dividend to the stockholders b 1 Prepare the income statement Expenses MILEA INCORPORATED Income Statement For the Year Ended December 31, Year 1 Total expenses Milea Incorporated experienced the following events in Year 1, its first year of operations 1 Received $13,000 cash from the issue of common stock 2 Performed services on account for $45,000 3 Paid the utility expense of $1,050 4 Collected $33,240 of the accounts receivable 5 Recorded $5,050 of accrued salaries at the end of the year 6 Paid a $950 cash dividend to the stockholders b 1 Prepare the income statement

Question

Milea Incorporated experienced the following events in Year 1, its first year of operations  1  Received $13,000 cash from the issue of common stock  2  Performed services on account for $45,000  3  Paid the utility expense of $1,050  4  Collected $33,240 of the accounts receivable  5  Recorded $5,050 of accrued salaries at the end of the year  6  Paid a $950 cash dividend to the stockholders  b 1  Prepare the income statement  Expenses MILEA INCORPORATED Income Statement For the Year Ended December 31, Year 1 Total expenses Milea Incorporated experienced the following events in Year 1, its first year of operations  1  Received $13,000 cash from the issue of common stock  2  Performed services on account for $45,000  3  Paid the utility expense of $1,050  4  Collected $33,240 of the accounts receivable  5  Recorded $5,050 of accrued salaries at the end of the year  6  Paid a $950 cash dividend to the stockholders  b 1  Prepare the income statement

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Question

Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $13,000 cash from the issue of common stock. 2.

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