Jason Chan operates a takeout pizza business called A Slice of Life Ltd. During the month of November, the following things occurred:

1. He paid $7,692 for pizza ingredients, $1,200 for rent, $220 for the telephone system, and $1,090 for utilities.

2. He took in $23,870 from selling pizzas.

3. He used up $7,130 worth of ingredients to make the pizzas.

4. His employees earned and were paid wages totalling $5,120 for the month.

Required:

a. Prepare a statement of income to determine how much A Slice of Life Ltd. earned in November.

b. Are there any other costs that might have been incurred in November but are not listed?