Chegg Study l Guided s e iG Dive In Company Wass ×V Final Exam M Final Exam Unti

ID: 2594923 • Letter: C

Question

Chegg Study l Guided s e iG Dive In Company Wass ×V Final Exam M Final Exam Untitled document-Go - ezto.mheducation.com/hm.tpx The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit $ 1,260 2,300 2,600 3,300 12,300 Credit Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue $ 2,900 5,570 1,000 3,200 630 2,700 1,000 Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense 330 43,680 330 21,900 1,450 4,520 1,550 6,300 3,200 Total $61,010 $61,010 1. Prepare an income statement for the year ended December 31. +1 4:51.0

Explanation / Answer

Income statement

Revenue

43680

Rent revenue

330

Total Income

44,010

Expenses

Salaries

21900

Depreciation

1450

Utilities

4520

Insurance

1550

Rent

6300

Income tax

3200

Total Exp

38920

Net Income

5,090