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Prepare an income statement for the month of June. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parenthese (45).)
Prepare an income statement for the month of June. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parenthese (45).) PRONGHORN CORP Income Statement Month Ended June 30, 2018 Revenues On June 1, 2018, Pronghorn Corp was formed. Its assets, liabilities, share capital, revenues, expenses, and dividends as at June 30 follow: $1,200 49,700 700 Cash Accounts receivable Accounts payable Bank loan payable Common shares Dividends declared Service revenue Supplies expense $14,000 Supplies 10,000 Equipment 7,100 Interest expense 22,000 Office expense 34,000 Utilities expense 1,000 Income tax expense 25,600 Salaries expense 1,500 1,500 900 5,900 2,300
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