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Can someone show me how to make an income statement using the table above?
ACCOUNTS PREPAD IBUSIN ACCOUNOTES CAPITAL STOCK PAYABLE PAYABLE ncome Descr CASH RECEIVAB INVENTORY EXPENSESASSETS Revenue Expense Dvidend Statement 40,000 40,000 1 Investmentby owners 2 Purchases inventor 5,000 5,000 5,000 1,000 3 3,000 4 Prepaid insurance 5 Sales revenue on account 6 lFees earned for cash 7 Purchased business assets 2,000 5,000 5,000 1,000 1,000 1.00 2,000 1,000 2,000 1,000 1,000 [Paid rentexpense 3 3,000 Totalofcolumn 31,000 6,0005,000 3,000 1,000 5,0000 40,000 8,000 Toal Asses: 46,000 Total Liab & Equity 46,000
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