Instructions Labels and Amount Descriptions Income Statement Hermes Services was organized on August 1, 20Y2. A summary of the revenue and expense transactions for August follows: Fees earned Wages expense $788,000 555,000 Rent expense 37,000 Supplies expense 7,900 Miscellaneous expense 11,300 Prepare an income statement for the month ended August 31. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is required. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. Labels August 31, 20Y2 Expenses For the Month Ended August 31, 20Y2 Amount Descriptions Net income Net loss Total expenses Prepare an income statement for the month ended August 31. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is required. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. 1 2 (Label) 3 4 5 6 Hermes Services Income Statement (Label) 7 8