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Question 13 15 pts D F Rae Services, Inc. provides healthcare diagnostics for patients with...

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Question 13 15 pts D F Rae Services, Inc. provides healthcare diagnostics for patients with autoimmune diseases. At the end of their first year of operations, Rae Services account balances are shown in the adjusted trial balance shown below: Rae Services, Inc. CODE Adjusted Trial Balance December 31, 2012 A Cash 172,500 B Accounts receivable 143,000 C Supplies 4,650 Prepaid insurance 2,400 E Equipment 88,100 Accumulated depreciation- Equipment 3,500 G Accounts payable 69,500 H Common stock 260,000 1 Retained earnings 125,000 Dividends 72,000 K Service revenue 209.510 L Advertising expense 2.500 Depreciation expense- M 3,500 Equipment N Insurance expense 1.000 Rent expense 10,000 Salaries expense 163,000 Supplies expense 1,560 R Utilities expense 3,300 667,510 667,510 Z OO a) Prepare an Income Statement (Enter Account code A-R instead of the full account name) Rae Services, Inc. Income Statement December 31, 2012 ENTER ACCOUNT CODE AMOUNT AMOUNT K 209510 TOTAL EXPENSES NET INCOME/(NET LOSS)

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