CASE 4 Income Statement Errors This monthly income statement for Genovese and Associates contains several errors. Income Statement Genovese and Associates April 30, 20 Revenue Sales Investment Income $50 000 2000 7 000 59 000 Cash Expenses Advertising Salaries Accounts Payable Rent General Net Income $ 2 000 40 000 5 000 8 000 1 000 56 000 $ 3 000 Questions 1. Prepare a list of the errors. 2. What is the correct net income or net loss