prepare income statement for the month ended december 31,2024.

Requirement 7. Prepare Murphy Delivery Service's income statement and statement of retained earnings for the month ended December 31,2024 , and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount - that is, the largest expense first, the smallest expense last. Begin by preparing the income statement. List expenses in decreasing order by amount-that is, the largest expense first, the smallest expense last. Murphy Delivery Service Worksheet (Partial) December 31, 2024 \begin{tabular}{l||l||l} \hline \hline \multicolumn{1}{c||}{} & \multicolumn{2}{c}{ Income statement } \\ \cline { 2 - 3 } Account Title & Debit & Credit \\ \hline \hline Cash & & \\ Accounts Receivable & & \\ Office Supplies & \\ Prepaid Insurance & \\ Truck & \\ Acc. Dep.-Truck & \\ Accounts Payable & \\ Salaries Payable & \\ Unearned Revenue & \\ Common Stock & \end{tabular} \begin{tabular}{l||r||r} Accounts Payable & \\ Salaries Payable & \\ Unearned Revenue & \\ Common Stock & \\ Dividends & \\ Service Revenue & \\ Salaries Expense & 1,600 & \\ \hline Dep. Exp.-Truck & 100 & \\ Insurance Expense & 100 & \\ Fuel Expense & 150 & \\ Rent Expense & 1,400 & \\ Supplies Expense & 300 & \\ \hline \end{tabular} ent and statement of retained ear t date. On the income statement, smallest expense last. ing order by amount-that is, the nber 2024: statement of retained earnings for the Dn the income statement, list expense t expense last. ar by amount-that is, the largest expe Keview me income Statement cotumns of the worksneet combietea in reauirement a