Oriole Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2022. Cash Receipts Cash Payments Issuance of common shares $19,400 Payment to purchase repair shop equipment $9,170 Rent payments to landlord 1,190 Newspaper advertising payment 300 Utility bill payments 895 Part-time helper's wage payments 2,600 Income tax payment 10,000 Cash receipts from ski and snowboard repair services 31,800 Subtotals 51,200 24,155 Cash balance 27,045 Totals $51,200 $51,200 The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The part-time helper is owed $410 at April 30, 2022, for unpaid wages. At April 30, 2022, customers owe Oriole Company $515 for services they have received but have not yet paid for. ORIOLE COMPANY Income Statement For the Year Ended April 30, 2022 Prepare an accrual-basis income statement for the 6 months ended April 30, 2022. +A +A +A