Prepare an income statement for 2016.

The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 49,000 26,800 103,900 90,000 156,500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid Rent Office Expense Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable 140,700 10,500 29,900 17,600 27,600 7,400 14,700 8,300 36,100 145,800 25,500 12,000 Other cash flow Information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for Income taxes Cash paid to purchase long term assets Cash paid to suppliers and employees Cash received from customers $ 25,000 28,100 11,400 56.400 88.000 145.000 8 9 10 13 of 13 H o fi e to search (hp 08 # % 5 7 02 8. 4 6 3 2 W U E R. T