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please prepare the income statement for me. i am very stuggle. please help me . help. thank you The Ivanhoe Hotel opened for business on

please prepare the income statement for me. i am very stuggle. please help me . help. thank you image text in transcribed
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The Ivanhoe Hotel opened for business on May 1, 2022. The May transactions resulted in a tabular summary, with May 31 unadjusted balances shown below in the first row. The $10,800 in the revenue column resulted from Rent Revenue. The $5,160 in the expense column includes Salaries and Wages $3,600, Utilities $960, and Advertising $600. Assets Acc. Depr: Bldgs. Prepd. Insur Acc. Depr: Equip Accts. Pay Int. Pay Cash + + + Supplies Land Bldgs. Equip. Bal. 3,000 + 3,120 + 2,160 0 18,000 + + 84,000 0 20.160 0 + 5.640 + The Ivanhoe Hotel opened for business on May 1, 2022. The May transactions resulted in a tabular summary, with May 31 unadjusted balances shown below in the first row. The $10,800 in the revenue column resulted from Rent Revenue. The $5,160 in the expense column includes salaries and Wages $3,600, Utilities $960, and Advertising $600. Liabilities Acc. Depr- Equip Stockholders' Equity Retained Earnings Accts. Pay Int. Pay Sal./Wages Pay Unearn. Rent, Rev. Mortg. Pay Com Stock + + + + + Rev. Exp. Div ) 0 5,640 + 0+ O + 3.960+ 43,200 + 72,000 + 10,800 - 5,160 0 Record adjustments on May 31 that reflect the following data. Include explanations for each adjustment to revenue or expense. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 1. 2. 3 Insurance expires at the rate of $540 per month, A count of supplies shows $1.260 of unused supplies on May 31. (a) Annual depreciation is $4,320 on the building. (b) Annual depreciation is $3,600 on equipment. The mortgage interest rate is 6%. (The mortgage was taken out on May 1) Rental services related to unearned rent of $3,000 have been provided. 4. 5. 6. Salaries of $1,080 are accrued and unpaidat May 31 Ivanhoe Hotel statement Income

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