Parker Renovation Inc. renovates historical buildings for commercial use. During 2011, Parker had $763,400 of revenue from

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Parker Renovation Inc. renovates historical buildings for commercial use. During 2011, Parker had $763,400 of revenue from renovation services and $5,475 of interest income from miscellaneous investments. Parker incurred $222,900 of wages expense, $135,000 of depreciation expense, $65,850 of insurance expense, $109,300 of utilities expense, $31,000 of miscellaneous expense, and $61,400 of income taxes expense.
Required:
Prepare a single-step income statement for Parker for 2011.
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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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