P8-3C.

Serena's Pie and Kite Shop

Partial Worksheet

For the year Ended September 30,2021

account titles. Income statement

DR. CR

Sales. 53,568.25

Sales Return.& allow. 834.50

Sales diacounts. 344.75

Cost of goods sold. 21,132.86

Rental Income. 1,800

Advertising expense. 1,352.50

Dep'n.expense Equip. 875

Cleaning expense. 2,400

Insurance expense. 368.75

Rent expense. 7,200

Salaries Expense. 11,458.60

Utilities Expense. 2,542.60

Total. 48,509.56. 55,368.25

Net Income. 6,858.69

Total. 55,368.25 55,368.25

P8-3C. From the partial worksheet shown below, prepare a formal income statement for Serena's Pie and Kite Shop of Yarmouth. Preparing an income statement from a worksheet SERENA'S PIE AND KITE SHOP INCOME STATEMENT FOR THE YEAR ENDED SEPTEMBER 30, 2021