As of December 31, 2019, Armani Companys financial records show the following items and amounts. Required Prepare
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As of December 31, 2019, Armani Company’s financial records show the following items and amounts.
Required
Prepare the 2019 year-end income statement for Armani Company.
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Cash. . Accounts receivable A. Armani, Withdrawals $10,000 9,000 6,000 5,000 11,000 16,000 19,000 $13,000 33,000 22,000 20,000 Consulting revenue Rental revenue Salaries expense. Rent expense Selling and administrative expenses.. Supplies.. Equipment. Accounts payable. A. Armani, Capital, Dec. 31, 2018. A. Armani, Capital, Dec. 31, 2019. 12,000 8,000
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