E$3-8($Algo$)$ Preparing a Statement of Earnings LO$3-4,3-5$

Peter's Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in October of

the current year:

a$.$ Peter's collected $$15,100$ from customers for games played in October.

b$.$ Peter's sold curling equipment inventory for $$10,100$; received $$6,400$ in cash and the rest on account; the cost of sales is $$6,200.$

c$.$ Peter's received $$4,400$ from customers on account who purchased merchandise in September.

d$.$ The curling league gave Peter's a deposit of $$4,900$ for the upcoming fall season.

e$.$ Peter's paid $$5,400$ for the September electricity bill and received the October bill for $$5,940,$ which will be paid in November.

f$.$ Peter's paid $$7,400$ to employees for work in October.

g$.$ Peter's purchased and paid $$2,220$ in insurance for coverage from October $1$ to December $31.$

$h.$ Peter's paid $$2,700$ to plumbers for repairing a broken pipe in the washrooms.

Required:

Prepare a statement of earnings for Peter's Curling Inc. for the month of October of the current year. Use an income tax rate of $40$

percent. $($ANSWER ON THE CHART PLS U AHVE EBTTWEEN COST OF SALES, INCOME TAX EXPENSE, INSURANCE, AND REPAIRS TO CHOOSE FROM FOR OPERATING EXPENSIES AND EARNINGS BEFOR EINCAME WTV YK$)$