I know this is a lot, but I cannot figure out why my income statement is wrong, all my other stuff comes out correct but that. maybe i missed something in my general journal.

thank you for your help

On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and taking over the location of Rent-it, an equipment rental company that was going out of business. The newly formed company uses the following accounts. The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December of its first year of operations, the corporation entered into the following transactions. Dec. 1 Issued to John and Patty Driver 20,000 shares of eapital stook in exchange for a total of $240,000 cash. Dec. 1 purehased for $280,000 all of the equipment forner1y owned by rent-It. Paid $168,000 oash and issued a 1-year note payable for $120,000. The note, plun al1 12 monthi of accrued interest, are due Novenber 30 , Year 2 . Dec. I Paid \$14,400 to shaplro Realty an three monthe' advance rent on the rental yard and office formerly oecupied by Rent-1t. Dec. 4 Purchased office guppliee on account from Modern office co.. 81,200 . Payment due in 30 days, (These nuppliea are expected to last for several months f debit the office supplies asset account.) Dec. 8 Received $9,600 cash as advance paysent on equipment rental fron MeKamer construction Conpany. (Credit Unearned) Rental Feos.) Dec.12 Paid salaries of $6,240 for the firat two weeks in December. Dec.15 Excluding the Mckaser advance, equipeent rental fees earned during the first 15 days of december amounted to $21,600, of which $14,400 was received in caoh. Dec. 17 Purchased on account from Earth Hovers, Ine., $720 in parta needed to perform basio maintenance on a rontal tractor. Payment in due in 10 days. Dec, 23 Collocted $2,400 of the accounts recoivable recorded on December 15, Dec. 26 Rented a backhoe to Miesion Landscaping at a price of $300 per day, to be paid when the backhoe in returned. Mission Landscaping expects to keep the backhoe for about two or three weeks. Dec.26 Paid biweokiy a alarios, $6,240. Dec.27 paid the account payable to Barth Movers, Inc., $720. bec.28 Declared a dividend of 12 cents per share, payable on January 15, Year 2. Dec, 29 Suequehanna Equipment Rentala wae naned, along with Miesion Landecaping and collier construction, as a codefendant in a $30,000 lavauit filed on behalf of Kevin Davenport, Mioaion Landscaping bad loft the rented defendant in a $30,000 lawguit filed on behalf of Kevin Davenport, Mission Landscaping had loft the rented backhoe in a fenced construction aite owned by Collier Construction. After working hourg on becember 26, Davenport had elimbed the fence to play on parked construction equipment. While playing on the backhoe, he fell and broke his arm. The extent of the company's logal and finaneial responsibility for this acoidont, if any, eannot be determined at this time. (Noter This event does not require a journal entry at this time, but may require disclosure in notes accompanying the statements.) Doc. 29 purchased a 12-month publie 1iability ineurance polioy for $11,520. Thio policy protecta the company against 1iability for injuries and property damage caused by ita equiptrent. However, the policy goes into offect on January 1, Year 2 , and affords no coverage for the injuries sustained by kevin Davenport on December 26 . Dec.31 Recelved a bil1 froe Univergal Utitileien for the month of December, $840. Payment it dee in 30 days. Dec.31 Equipment rental fees earned during the second half of December amounted to $24,000, of which $18,720 was received in cash. Data for Adjusting Entries in Year 1 a. The advance payment of rent on December 1 covered a period of three months. b. The annual interest rate on the note payable to Rent-it is 6 percent. c. The rental equipment is being depreciated by the straight-line method over a period of eight years. Any salvage value at the end of its useful life is expected to be negligible and immaterial. d. Office supplies on hand at December 31 are estimated at $720. e. During December, the company earned $4.440 of the rental fees paid in advance by MeNamer Construction Company on December 8. f. As of December 31, six days' rent on the backhoe rented to Mission Landscaping on December 26 has been earned. 9. Salaries earned by employees since the last payroll date (December 26) amounted to $1,680 at month-end. h. It is estimated that the company is subject to a combined federal and state income tax rate of 40 percent of income before income taxes (total revenue minus all expenses other than income taxes). These taxes will be payable in Year 2. Every joumal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions (1-17), entering the debits before the credits. Each transaction will automatically be posted to the General Ledger as soon as you click "Record Entry". Once you have reviewed the results then record the adjusting entries (18-25), and then the closing entries as weil (2629). If no journal entry is required, select "No journal entry required" in the first account field. Adjusted Post-closing Post-closing SUSQUEHANNA EQUIPMENT RENTALS \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Income Statement } & \\ \hline \multicolumn{2}{|c|}{ For the Year Ended December 31, Year 1} & \\ \hline Revenue: & & $ \\ \hline Rental fees earned & & \\ \hline Expenses. & & 0 & \\ \hline Maintenance expense & 0 & \\ \hline Salaries expense & 0 & \\ \hline Utilities expense & 0 & \\ \hline Rent expense & 0 & \\ \hline Interest expense & 0 & \\ \hline Depreciation expense & 0 & \\ \hline \hline Office supplies expense & 0 & $ \\ \hline Income before income taxes expense & & \\ \hline \hline Net income & & 0 \\ \hline \end{tabular}