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The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising Revenue

The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting.

Advertising Revenue $ 55,332
Cash 49,245
Accounts Receivable 8,149
Interest Expense 2,470
Accounts Payable 5,370
Operating Expenses 44,819
Deferred Revenue 1,400
Equipment 21,579
Income Tax Expense 2,767

The following activities occurred in 2019:

  1. Performed advertising services on account, $65,450.

  2. Received cash payments on account, $12,600.

  3. Received deposits from customers for advertising services to be performed in 2020, $4,000.

  4. Made payments to suppliers on account, $5,370.

  5. Incurred $53,550 of operating expenses; $46,400 was paid in cash and $7,150 was on account and unpaid as of the end of the year.

What is the amount of revenue that will be reported on the income statement for the year ended December 31, 2019?

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