Based on Problem 2-9A, prepare an income statement for Jay Pembroke for the month of April 20--.
Problem 2-9A:
Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred.
(a) Invested cash in business, $18,000.
(b) Bought office supplies for $4,600: $2,000 in cash and $2,600 on account.
(c) Paid one-year insurance premium, $1,200.
(d) Earned revenues totaling $3,300: $1,300 in cash and $2,000 on account.
(e) Paid cash on account to the company that supplied the office supplies in transaction (b), $2,300.
(f) Paid office rent for the month, $750.
(g) Withdrew cash for personal use, $100.