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Required information

$[$The following information applies to the questions displayed below$].$

Lawson Consulting, which began operations on December $1,$ had the following accounts and amounts on December $31.$ The $1.$ Lawson, Capital account balance at December $1$ was $$0$ and the owner invested $$10,500$ cash in the company on December $2$ On December $31,$ the company's accounts and amounts for the month of December are shown in the table below:

Cash

Accounts receivable

Equipment

Accounts payable

I. Lawson, Capital

$$5,000$ I. Lawson, Withdrawals

$4,500$ Services revenue

$6,500$ Rent expense

$3,000$ Wages expense

$10,500$ $$1,500$

$12,000$

$2,000$

$6,000$

Use the above information to prepare a December income statement for the business.

$\backslash$table$[[$LAWSON CONSULTING$],[$Income Statement$],[$For Month Ended December $31],[$Revenues:$,,,,],[$Services revenue,$$,12,000,,],[$Cash$,,,,],[$Total Revenues,,,$$,12,000],[$Expenses:$,,,,],[$Cash$,,,,],[$Rent expense,,$2,000,,],[$Wages expense,,$6,000,,],[$Total Expenses,,,,$8,000],[$Net income,,,$$,25,500]]$

$1$ In Class

$1$

Required information

$[$The following information applies to the questions displayed below.$]$

Lawson Consulting, which began operations on December $1,$ had the following accounts and amounts on December $31.$ The I. Lawson, Capital account balance at December $1$ was $$0$ and the owner invested $$10,500$ cash in the company on December $2$ On December $31,$ the company's accounts and amounts for the month of December are shown in the table below.

Use the above information to prepare a December income statement for the business.

$\backslash$table$[[$LAWSON CONSULTING$],[$Income Statement$],[$For Month Ended December $31],[$Revenues:$,,,,],[$Services revenue,$$,12,000,,],[$Cash$,,,,],[$Total Revenues,,,,$12,000],[$Expenses:$,,,,],[$Cash$,,,,],[$Rent expense,,$2,000,,],[$Wages expense,,$6,000,,],[$Total Expenses,,,,$8,000],[$Net income,,,$$,25,500]]$