On November 1, 2023, Jean Higgins started a wedding planning company, Extraordinary Studios. On November 30, 2023, the company’s records showed the following items. Use this information to prepare a November income statement for the business, similar to Exhibit 1.8.

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Cash Accounts receivable Office supplies Automobiles $16,000 17,000 Rent expense Salaries expense Telephone expense Utilities expenses 5,000 36,000 25,250 Office equipment Accounts payable Owner's investments Owner's withdrawals 3,360 Wedding consulting revenue 22,000 2,550 6,000 1,680 660 7,500 84,000