Universal Services was organized on October 1, 2015. A summary of the revenue and expense transactions for

Question:

Universal Services was organized on October 1, 2015. A summary of the revenue and expense transactions for October follows:
Fees earned ............$800,000
Wages expense ...........270,000
Rent expense .............60,000
Supplies expense ............9,000
Miscellaneous expense .........12,000
Prepare an income statement for the month ended October 31, 2015.