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Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. Account Titles Debit Credit

Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31.

Account Titles Debit Credit
Cash $ 42
Accounts Receivable 13
Prepaid Insurance 5
Equipment 88
Accumulated Depreciation $ 0
Accounts Payable 13
Common Stock 84
Retained Earnings 6
Sales Revenue 89
Insurance Expense 0
Salaries and Wages Expense 14
Supplies Expense 30
Totals $ 192 $ 192

Other data not yet recorded at December 31:
a. Insurance expired during the year, $4.
b. Depreciation expense for the year, $3.
c. Wages payable, $6.

d. Income tax expense, $8.

Using the above adjusted balances, prepare an income statement.

MINT CLEANING INC

Income Statement

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