Question
Required information As of December 31, 2019, Armani Companys financial records show the following items and amounts. Cash $ 11,400 Accounts receivable 10,400 Supplies 7,400
Required information
As of December 31, 2019, Armani Companys financial records show the following items and amounts.
|
|
|
|
|
Cash |
| $ | 11,400 |
|
Accounts receivable |
|
| 10,400 |
|
Supplies |
|
| 7,400 |
|
Equipment |
|
| 6,400 |
|
Accounts payable |
|
| 13,800 |
|
Common stock |
|
| 15,400 |
|
Retained earnings, Dec. 31, 2018 |
|
| 4,400 |
|
Retained earnings, Dec. 31, 2019 |
|
| 6,400 |
|
Dividends |
|
| 14,400 |
|
Consulting revenue |
|
| 35,800 |
|
Rental revenue |
|
| 24,800 |
|
Salaries expense |
|
| 21,400 |
|
Rent expense |
|
| 13,400 |
|
Selling and administrative expenses |
|
| 9,400 |
|
Required: Prepare the 2019 year-end income statement for Armani Company.
ARMANI COMPANY | |||
Income Statement | |||
For Year Ended December 31, 2019 | |||
Revenues |
| ||
| |||
| |||
| |||
$0 |
| ||
Expenses |
| ||
| |||
| |||
| |||
| |||
| |||
Total expenses | 0 |
|
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