Income Statement - one (1) question Instructions: Please prepare an Income Statement on your scratch paper based on the following Adjusted Trial Balance.

Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx?

Adjusted Trial Balance As of 12/31/20xx Accounts Debit Credit

Cash $5,400

Inventory 5,300

Supplies 4,900

Building 8,400

Accumulated Depreciation $3,000

Accounts Payable 1,745

Deferred Revenue 1,900

Common Stock 2,100

Retained Earnings 12,600

Dividends 2,000

Revenue 12,400

Salaries Expense 3,000

Supplies Expense 1,000

Interest Expense 1,745

Depreciation Expense 2,000

Totals $33,745 $33,745