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Wildhorse Ltd. has a September 30 fiscal year end and a 15% income tax rate. The following information is available for its 2021 year end:

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Wildhorse Ltd. has a September 30 fiscal year end and a 15% income tax rate. The following information is available for its 2021 year end: 1. Earned $558,000 of service revenue and incurred $ 474,000 of operating expenses. Interest expense was $ 2,700. 2. On October 5, 2020, paid $50,000 of dividends that had been declared on September 25, 2020. 3. On September 28, 2021, declared $ 40,500 of dividends payable on October 8, 2021. 4. Retained earnings on September 30, 2020, were $ 216,500. 5. Issued common shares for $28,300 cash on July 2, 2021. (a) Prepare an income statement. WILDHORSE LTD. Income Statement $ Prepare an income statement. WILDHORSE LTD. Income Statement $ > > $ $

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