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 $$14,350$ from customers for games played in October.

b$.$ Peter's sold curling equipment inventory for $$9,350$; received $$5,900$ in cash and the rest on account; the cost

sales is $$5,700.$

c$.$ Peter's received $$3,900$ from customers on account who purchased merchandise in September.

d$.$ The curling league gave Peter's a deposit of $$4,400$ for the upcoming fall season.

e$.$ Peter's paid $$4,900$ for the September electricity bill and received the October bill for $$5,390,$ which will be paid in

November.

$f.$ Peter's paid $$6,900$ to employees for work in October.

g$.$ Peter's purchased and paid $$2,070$ in insurance for coverage from October $1$ to December $31.$

h$.$ Peter's paid $$2,450$ 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 $30$ percent.