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Need to make an income statement. I'm not sure if I'm missing something. Post-closing Da GREAT ADVENTURES, INC. Income Statement For the Period Ended December
Need to make an income statement. I'm not sure if I'm missing something.
Post-closing Da GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Sales Revenue Service Revenue 0 77,000 $ (77,000) Net Sales Cost of Goods Sold Gross Profit Operating Expense Supplies Expense Insurance Expense Bad Debt Expense Rent Expense Repairs and Maintenance Expense Salaries Expense Warranty Expense OC 0 0 0 Total Operating Expenses Operating Income (Loss) Loss (77,000) 12,000 (65,000) Income Before Income Taxes Income Tax Expense Net Income $ (65,000) Trial Balance December 30, 2022 Account Title Credit $ Debit 180,568 50,000 2.400 7,000 900 500,000 62.000 25,250 800.000 20.800 750 14,500 5,000 475,869 48,014 12,000 4,000 120,000 90.000 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Prepaid Insurance Land Equipment Accumulated Depreciation Buildings Accounts Payable Interest Payable Income Tax Payable Deferred Revenue Notes Payable (Long-term) Notes Payable (Current) Contingent Liability Warranty Liability Common Stock Treasury Stock Additional Paid-in Capital Retained Earnings Dividends Service Revenue Sales Revenue Sales Discounts Interest Revenue Cost of Goods Sold Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Income Tax Expense Insurance Expense Repairs and Maintenance Expense Warranty Expense Loss Total 904.000 33.450 11,400 44,500 120.000 350 120 38,500 17.250 500 24,000 2.400 6.785 2.400 14,500 5.700 400 4,000 12.000 1.830,653 $ S 1.830.653Step by Step Solution
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