A very inexperienced accounting-intern at Sissy Parham Incorporated prepared the following income statement for the...
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Accounting
A very inexperienced accounting-intern at Sissy Parham Incorporated prepared the following income statement for the month of December 2015. Sissy parhamincorporatedhas21700 shares issued and outstanding
Sissy Parham sole proprietor
net income report
December 32, 2015
Revenues:
Unearned revenue: 50000
Services provided to customers: 73000
Accounts receivable: 3500
Common stock: 21000
Loan from bank: 17500
Total revenues
Expenses
Payments on long-term debt:40000
Operating expenses: 25000
Dividends:5000
Equipment purc:19000hases
Income tax payable:2400
Income tax expense:3600
Total expenses: 96000
Net income: 69000
Require: prepare an income statement in proper form
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