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Required: Prepare a statement of earnings for Peter's Curling Inc. for the month of October...

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Accounting

imageimage Required: Prepare a statement of earnings for Peter's Curling Inc. for the month of October of the current year. Use an income tax rate of 40 percent. Peter's Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in October of the current year: a. Peter's collected $13,900 from customers for games played in October. b. Peter's sold curling equipment inventory for $8,900; received $5,600 in cash and the rest on account; the cost of sales is $5,400. c. Peter's received $3,600 from customers on account who purchased merchandise in September. d. The curling league gave Peter's a deposit of $4,100 for the upcoming fall season. e. Peter's paid $4,600 for the September electricity bill and received the October bill for $5,060, which will be paid in November. f. Peter's paid $6,600 to employees for work in October. g. Peter's purchased and paid $1,980 in insurance for coverage from October 1 to December 31. h. Peter's paid $2,300 to plumbers for repairing a broken pipe in the washrooms. Required: Prepare a statement of earnings for Peter's Curling Inc. for the month of October of the current year. Use an income tax rate of 40 percent

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