Problem 1-59A. Arrangement of the Statement of Earnings Objective 5 CPA 1.1.1, 1.1.2, 1.4.2 Perez Wrecking Service demolishes old buildings and other structures and sells the salvaged materials. During 2022, Perez had $425,000 of revenue from demolition services and $137,000 of revenue from salvage sales. Perez also had $1,575 of interest income from investments. Perez incurred $243,200 of wages expense, $24,150 of depreciation expense, $48,575 of supplies expense, $84,000 of rent expense, $17,300 of miscellaneous expense, and $43,900 of income tax expense. Required: Prepare a single-step statement of earnings for Perez for 2022. Problem 1-60A. Statement of Earnings and Statement of Financial Position

Problem 1-59A. Arrangement of the Statement of Earnings Objective 5 CPA 1.1.1, 1.1.2, 1.4.2 Perez Wrecking Service demolishes old buildings and other structures and sells the salvaged materials. During 2022, Perez had $425,000 of revenue from demolition services and $137,000 of revenue from salvage sales. Perez also had $1,575 of interest income from investments. Perez incurred $243,200 of wages expense, $24,150 of depreciation expense, $48,575 of supplies expense. $84,000 of rent expense, $17,300 of miscellaneous expense, and $43,900 of income tax expense. Required: Prepare a single-step statement of earnings for Perez for 2022. Problem 1-60A. Statement of Earnings and Statement of Financial Position