Danny Hair Stylists\' adjusted trial balance follows. Prepare Danny\'s income st

Question

Danny Hair Stylists' adjusted trial balance follows. Prepare Danny's income statement for the year ended December 31, 2018. (Click on the icon to view the adjusted trial balance.) Data Table Danny Hair Stylists Income Statement Year Ended December 31, 2018 Danny Hair Stylists Adjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title S 1,700 1,300 1,200 20,100 Office Supplies $ 2,600 Accounts Payable Interest Payable Notes Payable Common Stock Net Income (Loss) 3,200 10,700 16,700 Service Revenue Rent Expense Supplies Expense 4,700 Interest Expense 2,400 S 34,900 34,900

Explanation / Answer

the following is the required income statement:

Revenues: Service revenue $16,700 Expenses Rent expense $4,700 Supplies expense $200 Depreciation expense - Equipment $2,600 Interest expense $2,400 Total expenses $9,900 Net income (loss) $6,800

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