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Some numbers are missing from the following income statement of Drake Inc. Drake Inc. Income Statement For the Year Ended May 31, 2023 Revenue Service
Some numbers are missing from the following income statement of Drake Inc. Drake Inc. Income Statement For the Year Ended May 31, 2023 Revenue Service Revenue $100,000 Sales Revenue Total Revenue $150,000 Expenses Salaries and Wages Expense 30,000 Rent Expense 24,000 Insurance Expense Maintenance Expense 3,000 Telephone Expense 1,500 Interest Expense 800 Total Expense Net Income $78,700 The amount for Insurance Expense is $50,000 $25,000 $100,000 $12,000
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