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These financial statement items are for Barone Corporation at year end, July 31, 2020. ...

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Accounting

These financial statement items are for Barone Corporation at year end, July 31, 2020.

Wages payable $2,400
Wages expense 53,800
Utilities expense 24,400
Equipment 34,300
Accounts payable 4,300
Service revenue 77,800
Rent revenue 8,300
Bank loan payable 2,000
Common shares 33,200
Cash 26,000
Accounts receivable 10,200
Accumulated depreciation, equipment 6,500
Dividends declared 4,000
Depreciation expense 4,300
Interest expense 100
Income tax expense 1,600
Retained earnings, August 1, 2019 24,200

Barone issued $16,100 of common shares during the year.

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Prepare a single step income statement for the year. BARONE CORPORATION Statement of Income

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