q3

Question 3 of 6 > 0.33/1 Show Attempt History Current Attempt in Progress Kimberly Young started her own consulting firm, Crane Consulting, on May 1, 2020. The following transactions occurred during the month of May. May 1 Trixie invested $6,600 cash in the business. 2 Paid $850 for office rent for the month. 3 Purchased $600 of supplies on account. 5 Paid $120 to advertise in the County News. 9 Received $3,800 cash for services performed. Withdrew $1,200 cash for personal use. Performed $5,000 of services on account. Paid $2,100 for employee salaries. Made a partial payment of $400 for the supplies purchased on account on May 3. Received a cash payment of $4,100 for services performed on account on May 15. Borrowed $5,500 from the bank on a note payable. Purchased equipment for $4,000 on account Paid $300 for utilities 12 15 17 20 23 26 29 30 (b) Prepare an income statement for the month of May. CRANE CONSULTING Income Statement