The Sandhill Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31.

SANDHILL HOTEL Trial Balance May 31, 2022
		Debit			Credit
Cash		$ 2,523
Supplies		2,600
Prepaid Insurance		1,800
Land		15,023
Buildings		72,400
Equipment		16,800
Accounts Payable					$ 4,723
Unearned Rent Revenue					3,300
Mortgage Payable					38,400
Common Stock					60,023
Rent Revenue					9,000
Salaries and Wages Expense		3,000
Utilities Expense		800
Advertising Expense		500
		$115,446			$115,446

Other data:

1.		Insurance expires at the rate of $300 per month.
2.		A count of supplies shows $1,190 of unused supplies on May 31.
3.		(a) Annual depreciation is $3,240 on the building.
		(b) Annual depreciation is $2,640 on equipment.
4.		The mortgage interest rate is 5%. (The mortgage was taken out on May 1.)
5.		Unearned rent of $2,600 has been earned.
6.		Salaries of $770 are accrued and unpaid at May 31.

Prepare an income statement for the month of May.

SANDHILL HOTEL Income Statement choose the accounting period May 31, 2022For the Month Ended May 31, 2022For the Year Ended May 31, 2022
select an opening name for section one ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, May 1Retained Earnings, May 31Dividends
enter an income statement item		$enter a dollar amount
select an opening name for section two ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, May 1Retained Earnings, May 31Dividends
enter an income statement item	$enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
select a closing name for section two ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, May 1Retained Earnings, May 31Dividends		enter a total amount for section two
select a closing name for this statement ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, May 1Retained Earnings, May 31Dividends		$enter a total net income or loss amount