Requirement $7.$ Prepare Magness Delivery Service's income statement and statement of owner's equity 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.

Review the Income Statement columns of the worksheet completed in Requirement $4.$

Magness Delivery Service

Income Statement

Month Ended December $31,2024$