Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable $ 5,500 115,600...

 

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Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable $ 5,500 115,600 32,000 235,500 14,200 37,600 185,000 Other Liabilities 25,600 Sales Revenue 230,000 Operating Expenses 190,600 Selling and Administrative Expenses 45,600 Advertising and Marketing Expenses 22,200 Interest Expense 5,500 Retained Earnings, July 1, 2019 73,000 Contributed Capital Dividends 137,000 21,500 Required: 1. Prepare an income statement for the year ended June 30, 2020. (Negative amounts should COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2020 Expenses Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable $ 5,500 115,600 32,000 235,500 14,200 37,600 185,000 Other Liabilities 25,600 Sales Revenue 230,000 Operating Expenses 190,600 Selling and Administrative Expenses 45,600 Advertising and Marketing Expenses 22,200 Interest Expense 5,500 Retained Earnings, July 1, 2019 73,000 Contributed Capital Dividends 137,000 21,500 Required: 1. Prepare an income statement for the year ended June 30, 2020. (Negative amounts should COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2020 Expenses

Answer rating: 100% (QA)

Based on the provided accounts and their balances we can prepare an income statement for the year en... View the full answer