Peters Curling Inc. operates several curling centres (for games and equipment sales). The following transactions occurred in the month of October.

(a) Peters collected $15,550 from customers for games played in October.

(b) Peters sold $10,550 in curling equipment inventory; received $6,700 in cash and the rest on account; cost of sales is $6,500.

(c) Peters received $4,700 from customers on account who purchased merchandise in September.

(d) The curling league gave Peters a deposit of $5,200 for the upcoming fall season.

(e) Peters paid $5,700 for the September electricity bill and received the October bill for $6,270 to be paid in November.

(f) Peters paid $7,700 to employees for work in October.

(g) Peters purchased $2,310 in insurance for coverage from October 1 to December 31.

(h) Peters paid $2,850 to plumbers for repairing a broken pipe in the washrooms.

Prepare a statement of earnings for Peters Curling Inc. for the month of October 2017. Use an income tax rate of 30 percent.

E3-8 Preparing a Statement of Earnings LO3-4, 3-5 Peter's Curling Inc. operates several curling centres (for games and equipment sales). The following transactions occurred in the month of October (a) Peter's collected $15,550 from customers for games played in October (b) Peter's sold $10,550 in curling equipment inventory; received $6,700 in cash and the rest on account; cost of sales is $6,500 (c) Peter's received S4,700 from customers on account who purchased merchandise in September (d) The curling league gave Peter's a deposit of $5,200 for the upcoming fall season (e) Peter's paid $5,700 for the September electricity bill and received the October bill for $6,270 to be paid in November () Peter's paid $7,700 to employees for work in October (g) Peter's purchased $2,310 in insurance for coverage from October 1 to December 31 (h) Peter's paid $2,850 to plumbers for repairing a broken pipe in the washrooms Prepare a statement of earnings for Peter's Curling Inc. for the month of October 2017. Use an income tax rate of 30 percent. PETER'S CURLING INC Statement of Earnings For the Month of October 2017 Expenses