prepare an income statement in its yesr 2 annual report

Required information [The following information applies to the questions displayed below.) The following selected accounts and account balances were taken from the records of Nowell Company. Except as otherwise indicated, all balances are as of December 31, Year 2, before the closing entries were recorded. Consulting revenue Cash Cash received from common stock issued during Year 2 Travel expense Dividends Cash flow from investing activities Rent expense Payment to reduce debt principal Retained earnings, January 1, Year 2 Salary expense Cash flow from operating activities Common stock, December 31, Year 2 Other operating expenses $10,100 7,500 3,800 750 900 2,800 1,750 16,000 14,990 3,109 2,950 8,000 2,200 Required a. Prepare the income statement Nowell would include in its Year 2 annual report. Income Statement For the Year Ended December 31, Year 2 1 G 2 3 of 5 Next >