The following items and amounts were taken from Cullumber Inc.'s 2025 income statement and balance sheet....

 

 

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The following items and amounts were taken from Cullumber Inc.'s 2025 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $88,700 124,500 440,000 117,500 7,900 64,300 Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $ 90,900 582,600 6,500 50,000 5,400 1,730 Prepare an income statement for Cullumber Inc. for the year ended December 31, 2025. CULLUMBER INC. Income Statement Revenues # December 31, 2025 The following items and amounts were taken from Cullumber Inc.'s 2025 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $88,700 124,500 440,000 117,500 7,900 64,300 Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $ 90,900 582,600 6,500 50,000 5,400 1,730 Prepare an income statement for Cullumber Inc. for the year ended December 31, 2025. CULLUMBER INC. Income Statement Revenues # December 31, 2025

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