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PE 1-4B Income statement OBJ. 5 The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow: Fees earned $750,000
PE 1-4B Income statement OBJ. 5 The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow: Fees earned $750,000 Office expense 295,000 Miscellaneous expense 12,000 Wages expense 450,000 Prepare an income statement for the year ended August 31, 2019. PE 1-5B Statement of owner's equity OBJ. 5 Using the income statement for Sentinel Travel Service shown in Practice Exercise 1-4B, prepare a statement of owner's equity for the year ended August 31, 2019. Barb Schroeder, the owner, invested an additional $36,000 in the business during the year and withdrew cash of $18,000 for personal use. Barb Schroeder, capital as of September 1, 2018, was $380,000
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