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This is my first time completing a question like this. I need to make an income statement with the information I was provided but I
This is my first time completing a question like this. I need to make an income statement with the information I was provided but I do not know how to do that because it does not list the exact amounts for total revenue, expenses, etc. Please explain.
Amounts of the assets and liabilities of Drew Peters Realty Company, as of January 31, 2018, are given as follows. Also included are revenue, expense, and selected stockholders' equity figures for the year ended on that date (all amounts in millions): (Click the icon to view the account balances.) Click the icon to view the balance sheet.) Read the requirements. Requirement 1. Prepare the income statement of Drew Peters Realty Company for the year ended January 31, 2018. (Enter all amounts in millions. If a box is not used in the income statement leave the box empty; do not select a label or enter a zero.) Drew Peters Realty Company Income Statement Year Ended January 31, 2018 (millions) Revenue: Total revenue Expenses: Salary and other employee expenses Other expenses Interest expense Total expenses Net income (loss) Data Table Drew Peters Realty Company Balance Sheet January 31, 2018 (Millions) Liabilities 57.4 Current liabilities Assets Cash 2.3 102.5 Receivables 0.8 76.9 Long-term liabilities Total liabilities Investment assets 104.8 Property and equipment, net 1.9 10.6 Other assets Stockholders' Equity Common stock Retained earnings Total stockholders' equity $ 147.6 Total assets Total liabilities and stockholders' equity Print Done Done i Data Table 1 ...$ i oio Total revenue. Receivables. Current liabilities Common stock .......... Interest expense. Salary and other employee expenses .. Long-term liabilities................. 29.6 Investment assets (long-term) .. $ 0.8 Property and equipment, net... 2.3 Other expenses ....... 35.9 Retained earnings, beginning .. 1.1 Retained earnings, ending..... 13.3 Cash ................... 102.5 Other assets (long-term) ...... co 10.6 Print DoneStep by Step Solution
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