Complete a Income Statement using the provided info from the worksheet and using the direction.

96 OF SALES 1. Complete income statement heading: Line 1: Business name Line 2: name of accounting form being prepared Line 3: time period numbers represent 2. Label first section: Revenue Write title of revenue account and account balance in second amount column. First amount column not needed because there is only one source of revenue. 3. Label second section: Expense Write title of each expense account and the account balance in the first amount column. 4. Below last expense account enter: Total Expenses then total the expense account balances by putting total amount in second amount column. 5. Subtract total expenses from revenue and put amount under total expenses amount in second amount column Label this amount as either Net Income (revenue > expense) or Net Loss (expense revenue). 6. Calculate component percentages in % of Sales column: divide sales total into other amounts to see what percentage of each revenue dollar goes to pay for that component TRIAL BALANCE DEBIT CREDIT ADJUSTMENTS DEBIT CREDIT INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT 19.266.00 1.541.00 1 19.266.00 1.541.00 2 3 4 2.500.00 1,050.00 2.300.00 1,050.00 5 650.00 2.236.00 20,350.00 ACCOUNT TITLE 1 Cash 2 Account Receitable - New 2 You 3 Accounts Receivable - All Eyes Promotions 4 Computer Equipment 5 Omice Equipment 6 Account Payable - Pro Advertising 7 Accounts Payable - Auto Doctor & Joe Smith Capital 9 Joe Smith, Drawing 10 Income Summary 11 Delivery Sales 12 Advertising Expense 13 Maintenance Expense 14 Rent Expense 15 Utilities Expense 16 Total 17 Net Income 18 Total 1.000.00 650.006 2.236.007 20.550.00 (1.000.00) 9 10 11 12 4,345.00 4,345.00 275.00 724.00 1,000.00 425.00 27,781.00 275.00 724.00 1,000.00 425.00 2.424.00 1.921.00 4,345.00 la la la la 1 F 16" 14 27.781.00 4,345.00 24, 357.00 22,436.00 16 1,921.00 17 24.357.00 18 4 345.00 24, 337.00