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What would be the missing data (see chart above of options) for the income statement? The highlighted in yellow is missing key details that would
What would be the missing data (see chart above of options) for the income statement? The highlighted in yellow is missing key details that would generate the net income.
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $82,650 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Retained earnings, October 1 as $0. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock $15,200 12,410 1,770 46,080 16,450 6,060 82,650 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 460 12,410 2,140 5,300 750 560 Using the above information prepare an October income statement for the business. Answer is not complete. ERNST CONSULTING Income Statement For Month Ended October 31 Revenues Consulting revenue $ 12,410 $ 12,410 Total revenues Expenses Rent expense Salaries expense Telephone expense Miscellaneous expenses >> 2.140 5,300 750 560 8,750 Total expenses Net incomeStep by Step Solution
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