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prepare an income statement for the year thank you These financial statement items are for Wildhorse Corporation at year end, July 31, 2021: $1,000 1,500
prepare an income statement for the year thank you
These financial statement items are for Wildhorse Corporation at year end, July 31, 2021: $1,000 1,500 15,500 3,300 21.940 13.000 Operating expenses $ 32,500 Interest payable Salaries expense 43,700 Supplies expense Deferred revenue 12,000 Dividends declared Utilities expense 2.400 Depreciation expense Equipment 64.500 Retained earnings, August 1, 2020 Accounts payable 4,420 Rent expense Service revenue 117,600 Income tax expense 19.000 Supplies Common shares 24,000 Trading Investments Cash 5,960 Bank loan payable (due December 31: 2021) Accounts receivable 18.100 Interest expense Accumulated depreciation-equipment 6.500 5,100 1.400 Rent revenue 20,000 23,300 2.800 Additional information: Wildhorse started the year with $ 17,000 of common shares and issued additional shares for $7.000 during the year Step by Step Solution
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