Prepare an statement of income. CONCORD LTD. Statement of Income For the Month Ended August 31, 2024 Revenues Service Revenue $9.540 Deferred Revenue \begin{tabular}{|l|r|} \hline 1,400 \\ \hline \end{tabular} Total Revenues $10,940 Expenses Salaries Expense $ 5.730 i Rent Expense \begin{tabular}{|r|r|} \hline 410 & i \\ \hline \end{tabular} Supplies Expense \begin{tabular}{|l|l|} \hline 770 & i \\ \hline \end{tabular} Depreciation Expense \begin{tabular}{|r|r|} \hline 198 & i \\ \hline \end{tabular} Advertising Expense 205 i Total Expenses Income Before Income Tax \begin{tabular}{|r|r|} \hline \hline \\ \hline \end{tabular} Income Tax Expense 330 7.313 i Net Income / (Loss) Adjusted Trial Balance August 31, 2024 \begin{tabular}{|c|c|c|c|c|} \hline & \multicolumn{2}{|c|}{ Debit } & \multicolumn{2}{|r|}{ Credit } \\ \hline Cash & $ & 5,610 & $ & \\ \hline A.ccounts Recelvable & & 5,650 & & \\ \hline Prepald Advertising & & 205 & & \\ \hline Supplles & & 1,020 & & \\ \hline Notes Recelvable & & 4,000 & & \\ \hline Interest Recelvable & & 40 & & \\ \hline Equlpment & & 11,400 & & \\ \hline A.ccumulated Depreclatlon - Equlpment & & & & 2,178 \\ \hline Accounts Payable & & & & 3,110 \\ \hline Salarles Payable & & & & 1,610 \\ \hline Income Tax Payable & & & & 330 \\ \hline Deferred Revenue & & & & 1,400 \\ \hline Common Shares & & & & 12,300 \\ \hline Retalned Earnings & & & & 5,630 \\ \hline Dividends Declared & & 550 & & \\ \hline Servlce Revenue & & & & 9,540 \\ \hline Interest Income & & & & 20 \\ \hline Salarles Expense & & 5,730 & & \\ \hline Rent Expense & & 410 & & \\ \hline Supplles Expense & & 770 & & \\ \hline Depreclation Expense & & 198 & & \\ \hline Income Tax Expense & & 330 & & \\ \hline A.dvertlsing Expense & & 205 & & \\ \hline Totals & $ & 36,118 & $ & 36,118 \\ \hline \end{tabular}